Nifty IT Rallies 1.04% as All Stocks Shine; Persistent and LTIMindtree Take the Lead

Mumbai, 17 June 2025: The Nifty IT index registered a strong 1.04% gain on Tuesday, closing at 39,479.90 after rising 406.85 points. All 10 stocks in the index traded in the green by midday, showcasing broad-based strength in the technology sector. The rally stood out amid weakness in the wider market, driven by selective buying in both large-cap and mid-tier IT names.

As of 1:09 PM IST on June 17, 2025, the Nifty IT index rose by 296.75 points or 0.76%, reflecting positive sentiment in the tech sector. The index opened at 39,123.00, up from the previous close of 39,073.05. It touched an intraday high of 39,499.15 and a low of 38,977.95. Over the past 52 weeks, the index has moved between a low of 30,918.95 and a high of 46,088.90.

Persistent, LTIMindtree, Coforge Drive Rally

Persistent Systems rose by 1.75% to settle at ₹6,124.50, reflecting a massive 59.54% year-on-year return. LTIMindtree followed closely, climbing 1.86% to ₹5,551, while Coforge gained 1.72% to end at ₹1,861.

Other notable performers included:

• Tech Mahindra: ₹1,717 (+1.36%)
• Infosys: ₹1,644.10 (+1.25%)
• Wipro: ₹265.25 (+0.90%)
• HCL Technologies: ₹1,733 (+0.58%)
• TCS: ₹3,514.40 (+0.52%)
• Oracle Financial Services (OFSS): ₹9,729 (+0.48%)
• MphasiS: ₹2,719.20 (+0.44%)

Top 5 Stocks by Intraday Percentage Gain

Rally Defies Weak Broader Market Trend

While the Nifty 50 slipped 0.34% to 24,860.95 due to profit booking and geopolitical tensions, IT stocks saw a wave of optimism. Analysts attributed the strength to renewed confidence in large-cap counters, fuelled by anticipated deal wins and increasing global digital transformation demand. Strong fundamentals drove persistent and LTIMindtree, while Coforge bounced back despite recent underperformance, hinting at bargain buying.

Why Nifty IT Outshone the Market Today

• Strong Buying in Large-Cap IT Stocks: Investors showed renewed confidence in frontline IT names like Persistent Systems and LTIMindtree, which led the rally on solid fundamentals.
• Anticipation of Robust Deal Wins: Optimism around upcoming large contracts and global deal inflows boosted sentiment across the sector.
• Rebound in Mid-Tier IT Players: Beaten-down stocks like Coforge witnessed bargain buying, adding to the index’s broad-based gains.
• Global Digital Transformation Demand: Increased enterprise tech spending and digital adoption globally lifted expectations for Indian IT firms.
• Positive U.S. Tech Market Cues: Strength in U.S. tech stocks influenced local investor sentiment, supporting IT sector performance.
• Ahead of Q1FY26 Earnings: Hopes of stable margins and healthy results in the upcoming earnings season attracted buying interest.
• Safe Haven Amid Broader Market Weakness: With the broader Nifty 50 in decline, investors turned to defensives like IT for stability. 

Near-Term Outlook Favourable if Earnings Hold Up

Though the index still trades 14.34% below its 52-week peak, market experts see more upside potential. If Q1FY26 results indicate steady margins and robust contract flow, IT stocks may continue their upward trend. Investors are also watching U.S. tech market cues and global IT spending commentary

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations