TCS, HCL Tech, Infosys shares surge up to 11% in 2 days; Nifty IT soars 2,000 points. More steam left for rally?
Indian IT stocks rallied as concerns over AI-driven disruption eased, triggering an “anti-AI” trade. The Nifty IT index surged over 2,000 points in two sessions to cross 30,000, its first move above the mark in nearly a month. HCL Tech gained nearly 11% in two days following its Q2 results, while TCS and Infosys rose 6–10%.
Tata Consultancy Services (TCS), HCL Technologies and Infosys experienced significant share price increases over the course of two days, with the Nifty IT index surging more than 2,000 points to cross 30,000 on Wednesday. The surge in IT stocks has been attributed to the so-called 'anti-AI' trade, which refers to the belief that Indian IT companies have an advantage over global AI stocks due to their focus on software-as-a-service (SaaS) and other non-AI offerings.
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