Nifty IT Index Hits 4-Month High, Rallies 9% in One Month

The Nifty IT index surged 2% on the National Stock Exchange, hitting a four-month high, driven by expectations of improved earnings and the Indian rupee hitting a record low against the US dollar. In the past month, IT stocks such as TCS, Infosys, Tech Mahindra, HCL Technologies, LTIMindtree, Persistent Systems, and L&T Technology Services have rallied between 9% and 15%. The IT sector's earnings before interest and tax margins surprised positively in Q2FY26, partly due to the INR depreciation.