IT Sector

TCS led a strong rally in IT stocks after announcing a multi-million-dollar AI-powered network transformation deal with ABB and a major leadership reshuffle. Supported by strong quarterly earnings and AI optimism, the NIFTY IT index surged over 4%, with all major IT stocks trading higher.

Indian markets ended sharply higher on July 10, 2026, with Sensex rising 827 points and Nifty gaining 244 points. Strong TCS Q1 FY27 results, a rally in IT stocks, lower crude oil prices, easing volatility, and positive global cues supported investor sentiment. Realty, PSU banks, and financial stocks also witnessed strong buying during the session.

Tata Consultancy Services (TCS) reported a mixed yet stable performance for Q1 FY27, with revenue rising to ₹72,275 crore, net profit at ₹13,349 crore, AI revenue growing 13.6% sequentially, and total contract value reaching $9.5 billion.

Indian benchmark indices witnessed a broad-based sell-off on July 8, 2026, with the Nifty 50 and Sensex declining more than 2% as renewed US-Iran tensions, soaring crude oil prices, a weaker rupee, and rising market volatility dented investor sentiment. Banking and financial stocks led the decline, while most sectoral indices ended deep in the red amid growing geopolitical uncertainty.

The Indian stock market extended its rally on July 6, 2026, with the Nifty and Sensex closing higher, driven by HDFC Bank's strong Q1 FY27 business update, falling Brent crude prices, sustained FII inflows, and positive global sentiment. Realty, Auto, and Oil & Gas outperformed, while IT, PSU Banks, and Media witnessed profit booking ahead of the earnings season.

HCL Tech has won a $1.14 billion AI and digital transformation contract, reportedly with Mercedes-Benz, boosting investor confidence. The deal strengthens revenue visibility, highlights the company's AI ambitions, and marks a significant competitive win in the IT services industry.

The Indian stock market extended its gains on July 2, 2026, with the Nifty closing at 24,175.70 and the Sensex rising 579 points. A strong rebound in IT stocks, lower Brent crude prices, easing US-Iran tensions, a stronger rupee, and lower India VIX boosted investor confidence, while Realty, Auto, Chemicals, Cement, and Consumer Durables also ended in positive territory.

The Nifty IT index rebounded sharply on July 2, rising over 3% after four consecutive sessions of losses. Buying was led by Infosys, HCLTech, TCS, Tech Mahindra and Wipro, while mid-cap IT stocks also witnessed strong gains despite weak global technology cues.

KPIT Technologies slipped to a fresh 52-week low following a weak Q1 FY27 update, margin pressure, and reduced spending from European automotive clients. Brokerage downgrades, block deals, and sector headwinds further weighed on sentiment, leading to sharp short-term underperformance despite long-term gains.

Indian benchmark indices snapped a two-session losing streak on July 1, 2026, as the Nifty 50 climbed above the 24,000 mark and the Sensex gained 444 points. The rally was driven by easing crude oil prices, positive global cues, strong June auto sales, and broad-based buying in Realty, FMCG, Auto, and financial stocks, while IT remained under pressure amid concerns over slowing global technology spending.