{
  "id": 14133238,
  "title": "HCLTech jumps over 5%, TCS up 4%: Why are IT stocks rallying",
  "url": "https://urgent.news/2026/10/13/hcltech-jumps-over-5-tcs-up-4-why-are-it-stocks-rallying",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T05:45:50.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/hcltech-jumps-over-5-tcs-up-4-why-are-it-stocks-rallying/articleshow/134908713.cms"
  },
  "original_language": "en",
  "account": "On Tuesday, Indian stock market witnessed a rally as tech-focused stocks led the gains, pushing key indices like BSE Focused IT index and Nifty IT up around 3%. Leading the surge was HCLTech, which recorded a whopping 5.74% increase to reach Rs 1,290 after reporting impressive quarterly results the previous day. The strong performance was also mirrored by Tata Consultancy Services (TCS), India's biggest IT firm, which saw a 5.07% rise to Rs 2,234.80 following a 15% boost in net profit in its recent earnings. Other IT stocks like Tech Mahindra and Infosys also contributed to the rally, climbing 3.52% and 2.06% respectively. By mid-morning, the Nifty IT index was up 3.12%, or 885.65 points, reaching 29,235.25, while the BSE Focused IT index gained 3.04%, or 1,044.37 points, to 35,366.87. The broader market also showed strength, with BSE Sensex up 466.15 points, or 0.65%, to 72,390.83, and Nifty 50 gained 145.30 points, or 0.65%, to 22,508.65. The rally can be attributed to better-than-expected quarterly results from major IT companies, indicating a possible easing of concerns over the sector's earnings growth. Industry experts believe that this could be a value buying opportunity in the sector. Despite the rally, IT stocks have had a tough year, with the Nifty IT index down 23% year-to-date. Other concerns include the Indian Rupee's recovery, inflation, crude oil prices, and interest rate outlook, which continue to influence market sentiment.",
  "summary": "Dalal Street saw a surge as IT stocks soared following strong quarterly earnings from industry giants. HCLTech and Tata Consultancy Services were at the forefront, with their share prices climbing significantly. However, this rally comes amidst a tougher year for IT stocks, which have dipped by 23%. Investor concerns remain about inflation and fluctuating crude oil prices, with the global tech…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}