Infosys, TCS, HCL Tech Lead 3% Surge In Nifty IT As US-India Trade Optimism Fuels Buying Spurt

Mumbai, October 23, 2025: In an early morning session, the Nifty IT index had shot nearly 3% on Thursday morning as tech heavyweights shot up on the prospects of a potential US-India trade accord. Among the 10 indices, 9, including Infosys, HCL Technologies, and TCS, moved in the green, propelling the rally, while Oracle Financial Services Software Ltd, the only one in red, traded at (-0.56).

As of 2:30 PM IST, the Nifty IT index rose 2.82% to 36,295.45, up from its previous close of 35,299.75. The index touched an intraday high of 36,462.00 and a low of 35,859.75. Market breadth was strongly positive, with nine stocks advancing for every one declining. A total of 2.15 crore shares changed hands, generating a turnover of approximately ₹2,956.83 crore.

Major Gainers In Nifty IT

Nifty IT stocks performed strongly this session, with Infosys leading the way with a gain of 4.59%, closing at ₹1,540.00. HCL Technologies (up 3.55% to ₹1,538.80) was the second-highest gainer. Other major gainers included MphasiS (+2.53%), TCS (+2.44%), Persistent Systems (+1.43%), Tech Mahindra (+1.53%), Wipro (+1.89%), Coforge (+1.53%) and LTIMindtree (+1.60%).

Market Context

Technology stocks gained as optimism grew over a potential cut in US tariffs on Indian goods from 50% to 16% during trade discussions. Reports suggested that Indian Prime Minister Narendra Modi and US President Donald Trump addressed the matter over a phone call, boosting sentiment for export-driven sectors like IT.

Analysts have noted optimism toward cross-border trade, and renewed foreign fund flows into Indian equities have strengthened demand for large-cap software exporters, particularly those with sizeable exposure to the US.

Sector Performance Overview

All leading IT players experienced significant momentum in the morning session:

• Infosys increased by 4.59% after it filed its draft offer document for an ₹18,000 crore share buyback at ₹1,800 per share.
• After its results, HCL Technologies increased by more than 3%, continuing its rally fueled by strong services revenue growth and a robust deal pipeline.
• TCS rose nearly 2.44%, aided by a favourable assessment of TCS’s stable order book momentum and stable margins.
• Wipro, Tech Mahindra and LTIMindtree all advanced between 1.5% and 2.5%, while Persistent Systems and MphasiS added more than 2% each.

Broader Market Trend

The upbeat sentiment in technology counters spilled over to the broader market, with the Nifty 50 trading 0.3% higher at 25,946.85 and the Sensex surging over 700 points in early trade. Buying interest was also seen in FMCG and banking stocks, reflecting improving risk appetite amid easing geopolitical concerns and festive-season optimism.

REF: https://www.nseindia.com/market-data/live-equity-market?symbol=NIFTY IT

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