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IT stocks recover on US tech rally, value edge
IT stocks surged on Thursday, with the Nifty IT index climbing over 4.7% and leading gains on the NSE. This rebound followed recent losses, driven by a US tech rally and anticipation of quarterly results. Large-cap firms like Infosys and TCS saw significant jumps, while mid-cap IT stocks also experienced strong buying. Analysts suggest attractive valuations are emerging after a notable correction, hinting at potential further upside.
Sensex Today Trades Lower | Nifty Below 24,050 | Kotak Mahindra & HCL Tech Top Losers - Equitymaster
Sensex Today Trades Lower | Nifty Below 24,050 | Kotak Mahindra & HCL Tech Top LosersEquitymaster
Sensex Today Trades Lower | Nifty Below 24,050 | Kotak Mahindra & HCL Tech Top Losers - Equitymaster
Sensex Today Trades Lower | Nifty Below 24,050 | Kotak Mahindra & HCL Tech Top LosersEquitymaster
Top Gainers & Losers on June 5: Adani Green, Ather Energy, OLA, CarTrade Tech, YES Bank among top gainers
In terms of weekly performance, the Nifty 50 lost 0.8% of its value, extending its losing streak to a second straight week, while the Sensex also closed lower for the second consecutive week.
Watch | Sanjay Parekh on where he sees value in banks, IT, cement and telecom stocks
Sohum Asset Managers’ Founder & CIO, Sanjay Parekh, says markets look sluggish despite improving macro conditions, with Q3 Nifty earnings near 8–9%. He sees recovery in CVs (Ashok Leyland), credit growth at ICICI Bank and gradual picka a up in cement and steel. Portfolio stays domestic-focused: overweight telecom, NBFCs, industrials, cement, utilities, ports and logistics; underweight oil & gas and banks, zero FMCG. Watching IT names like Infosys and TCS, mid-cap tech (Persistent, Coforge, Mastek), defence HAL, quick commerce Zomato and Swiggy, and capital goods L&T, JSW Energy.
Anthropic hack puts IT stock pack on slide row in February; Nifty IT's 19% fall worst since 2008 crisis
The Nifty IT index plunged 19.5% in February, its steepest monthly drop since 2008, as AI disruption fears and new tools from Anthropic triggered heavy selling. Tech stocks erased Rs 5.7 lakh crore in market value, with Coforge and LTIMindtree among the worst hit.
Taking Stock: Nifty ends near 23,150 in volatile trade; pharma, private banks rally
ICICI Bank, Kotak Mahindra Bank, Grasim, M&M, JSW Steel were among top gainers on the Nifty, while losers were Infosys, HCL Tech, Adani Ports, Trent, Eternal.