IT stocks today: IT stocks such as TCS, Infosys, HCLTech, Wipro, Tech Mahindra and Coforge jumped today, July 28, after a strong overnight rally in US-listed IT services and software companies, reflecting improving investor sentiment toward the technology sector.
Software stocks outperformed the Philadelphia Semiconductor Index (SOX) amid a broader market rotation where application software and tech firms saw strong follow-through gains while chipmakers faced a sharp correction and pullbacks.
The Nifty IT index rose around 3% to 29,535.20, extending gains for the second straight session. It ended a little less than 1% higher in the previous session.
Among global peers, Accenture climbed 4.8%, while EPAM Systems also gained 4.8%. Gartner advanced 5%, Globant rose 4%, and Cognizant added 3.5% during the US trading session. The broad-based gains in software and IT services stocks outperformed the Philadelphia Semiconductor Index (SOX), signalling renewed strength in software names that could provide positive cues for Indian IT stocks in Tuesday’s trade.
Back home, all Nifty IT constituents were in the green. Cofore surged the most around 7%, followed by Mphasis, up around 5%. Meanwhile, LTM, Persistent Systems, Tech Mahindra, TCS, and Infosys rose over 2.5% each. Moreover, L&T Tech, HCL Tech and Wipro also added between 1% and 2% in today’s deals.
