Infosys, HCLTech, TCS rise up to 4%: Why are IT stocks rising today and should you buy?
India Today
IT stocks may still be under pressure, but today's rebound shows confidence returning. The clash between AI anxiety and long-term opportunity is reshaping the narrative, pulling investors back into one of India's most-watched sectors.
Major information technology (IT) stocks finally found some relief on Tuesday after weeks of selling that wiped out a significant amount of market capitalisation.
Shares of Infosys Ltd, HCL Technologies Ltd and Tata Consultancy Services Ltd rose as much as 4% in early trade. The Nifty IT index also rose nearly 3% in early trade.
The rebound in IT stocks comes just a day after the sector witnessed a steep fall because of fear that fast-moving developments in artificial intelligence (AI) could disrupt long-established services in coding, maintenance and support.
The sell-off began when investors started worrying that tools built by companies such as Anthropic could automate large parts of the work that Indian IT firms traditionally bill for.
As those fears spread, major stocks were marked down heavily and the Nifty IT index recorded one of its steepest corrections in years. The sector had been under pressure for most of February and valuations eventually reached levels that many market participants considered excessive.
The mood changed today as traders and long-only funds stepped in. With global tech shares stabilising overnight and fresh reports hinting at possible collaboration between AI developers and IT service providers, investors turned more comfortable with the idea that the transition may be challenging but not destructive.
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Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
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The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
India consumes roughly 5.3 to 5.5 million barrels of crude oil every day. However, domestic production is only about 0.6 million barrels per day. This means the country depends on imports for nearly 85% of its oil needs.
At around 10:47 am, the BSE Sensex was down 750.68 points or 0.96% at 77,455.30, while the Nifty 50 slipped 208.25 points or 0.86% to 24,053.35.
Air India said the fuel surcharge is due to the sharp rise in aviation turbine fuel (ATF) prices since early March 2026, triggered by supply disruptions in the Gulf region.
Rahul Bhatia expressed gratitude to employees who worked tirelessly to restore operations during that challenging period, praising their resilience and dedication.