Infosys, HCL Tech, Tech Mahindra, TCS: IT stocks power stock market rally today, more details

IT shares led the market rally on Thursday after Sensex and Nifty opened with huge gains on the back of reports that India and the United States may reach an agreement that would cut US tariffs on Indian imports to 15% to 16% from 50%. 

The BSE IT index was the top gainer among 19 sectoral indices rising 611 pts to 35,716.  Nifty IT index too gained 628 pts to 35927 in early deals. Top gainers on Sensex were IT stock such as Infosys (3.20%), HCL Technologies (2.03%), Tech Mahindra (1.53%) and TCS (1.38%). 

On Nifty too, top gainers were Infosys (3.03%), HCL Technologies (2.34%), Tech Mahindra (1.44%), TCS (1.29%) and Wipro (1.32%).  

Interestingly, IT stocks were the most impacted by the India US tariff row this year along with subdued quarterly earnings. Despite today’s  rally, the Nifty IT index is still down 16.76% on a year to date basis. On similar lines, BSE IT index has lost 18.21% in 2025.  

The US accounts for a significant portion of India’s total IT and software services exports. According to some estimates, US share can be as high as 70% of India’s total IT export revenue., India’s overall exports to the US, including non-IT sectors, are a smaller fraction compared to the IT sector. 

Banking and capital goods stocks were other notable gainers in early deals today. BSE bankex rose 604 pts to 65,969 and BSE capital goods index climbed 345 pts to 69,795. 

Meanwhile, Sensex climbed 713 points to 85,139 and Nifty rose 200 pts to 26,069 in early deals today.