Infosys, TCS, HCLTech gain up to 3%: Why are IT stocks rising today?
India Today
The main trigger for the rally was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. Investors reacted positively to the news, pushing Infosys shares nearly 3% higher to around Rs 1,407 during the session.
After facing heavy selling pressure last week, Indian IT stocks saw a sharp recovery on February 17. The Nifty IT index, which had fallen 8.2% last week in its worst weekly performance in 11 months, bounced back nearly 2% in early trade.
Fresh buying in key stocks such as Infosys, TCS and HCLTech helped lift the sector and steady the broader market.
At 10:22 am, the Nifty 50 was down 0.04% at 25,674.6, while the BSE Sensex was up 0.08% at 83,339.7. Dalal Street had opened weak, but gains in IT stocks helped the indices recover from early losses. Weakness in Reliance Industries and financial stocks limited the overall upside.
The main trigger for the rally was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. Investors reacted positively to the news, pushing Infosys shares nearly 3% higher to around Rs 1,407 during the session.
The company said it will work with Anthropic to build advanced AI solutions for enterprises, especially in highly regulated sectors. These include industries such as banking, healthcare and public services, where companies must follow strict rules and compliance standards.
The announcement came just days after Anthropic opened its first India office in Bengaluru. This move signals its growing focus on the Indian market.
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The main trigger for the rally was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. Investors reacted positively to the news, pushing Infosys shares nearly 3% higher to around Rs 1,407 during the session.
Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
The S&P BSE Sensex rallied 650.39 points to close at 83,277.15, while the NSE Nifty50 added 211.65 points to end at 25,682.75.
The S&P BSE Sensex was down by 47.79 points to 82,578.97, while the NSE Nifty50 lost 7.45 points to 25,464.75 as of 9:48 am.
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