India's IT stocks climb as moderate US inflation eases Fed rate hike fears

Mphasis

01/10/2026 06:34

** India's information technology index .NIFTYIT rises 2% to 28,289.85
** Nine of 10 index constituents rise; Mphasis MBFL.NS and Coforge COFO.NS lead with 4.5% and 3.5% gains, respectively
** Sector majors Tata Consultancy Services TCS.NS and Infosys INFY.NS jump 1.7% and 2.4%, respectively
** US personal consumption expenditures price index rose 0.3% in August, below expected 0.4%
** Lower-than-expected increase likely to reduce urgency for the Federal Reserve to raise interest rates again in October
** A higher US interest rate hurts IT companies as it discourages discretionary spending in their key market
** YTD, IT index down 25.5% vs benchmark Nifty 50's .NSEI 13.7% drop





 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))