# Indian IT Stocks Rally 2% Led by Tech Mahindra and Wipro Ahead of Quarterly Results

- URL: https://stocks.freetheai.org/news/indian-it-stocks-rally-2-led-by-tech-mahindra-and-wipro-ahead-of-quarterly-dbe1f5
- Published: 2026-10-15T10:39:09Z
- Category: markets; sentiment: bullish; impact: medium
- Symbols: [NSE:CNXIT](https://stocks.freetheai.org/symbols/NSE-CNXIT)
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Indian technology stocks advanced significantly on Thursday afternoon, with the Nifty IT index rising over 2% to lead sectoral gains on the National Stock Exchange. The surge was driven by buying interest across eight of the ten index constituents, headed by Tech Mahindra (TECHM) and Wipro (WIPRO) as both companies prepared to publish their quarterly financial reports after market hours. Other major software exporters, including HCL Technologies (HCLTECH), Tata Consultancy Services (TCS), and Infosys (INFY), also recorded solid gains.

The strength in software shares arrived at a crucial moment for domestic equities, helping offset broader market weakness caused by global economic headwinds. Global markets faced sharp drops following hotter-than-expected inflation data from the United States, which renewed concerns over potential Federal Reserve interest rate hikes. While international equity benchmarks slid and broader domestic indices remained under pressure, the IT sector and a firmer Indian rupee provided vital support to local sentiment.

Investors are now focusing on the upcoming earnings statements from major IT firms to gauge demand trends and client spending outlooks. Market participants are also keeping a close eye on technical levels for the broader market, alongside ongoing foreign institutional investor outflows, geopolitical developments, and fluctuations in crude oil prices.

## Key points

- The Nifty IT index climbed over 2% on Thursday, leading sectoral gains on the National Stock Exchange with eight out of ten member stocks trading higher.
- Tech Mahindra surged 3.83% and Wipro gained 1.39% as investors positioned ahead of both companies' quarterly earnings announcements.
- Major tech exporters Infosys, Tata Consultancy Services, and HCL Technologies gained between 2.2% and 3.0%.
- IT sector strength helped buffer Indian markets against global equity declines triggered by higher US core inflation figures.

## Questions and answers

### Why did Indian IT stocks rise on Thursday?

The Nifty IT index gained over 2% led by Tech Mahindra and Wipro as investors anticipated their quarterly earnings reports, alongside gains in other major IT exporters like TCS, Infosys, and HCL Technologies.

### Which IT stocks performed best ahead of earnings?

Tech Mahindra was the top gainer, rising 3.83% to ₹1,635.50, while Wipro gained 1.39% to ₹173.29. HCL Technologies, TCS, and Infosys also climbed between 2.2% and 3.0%.

### How are global markets affecting Indian equities?

Concerns over Federal Reserve rate hikes following strong US inflation data led to global stock sell-offs, but domestic IT stock gains and a stronger rupee helped support Indian markets.