Indian IT stocks gain after four-session losing streak

Mphasis

02/07/2026 05:32

** Indian IT stocks .NIFTYIT climb 3.8%
** Sub-index snaps four-session losing streak after shedding 6.5%
** All 10 constituents trade higher, led by Infosys INFY.NS and MPhasis MBFL.NS, up 4.8% and 4.9%, respectively
** Heavyweights TCS TCS.NS and HCLTech HCLT.NS gain 2.9% and 3.8%, respectively
** "Nothing has changed overnight from fundamental perspective for IT companies" - Sunny Agrawal, SBICAPS Securities
** Investors await Indian IT firms' quarterly results, with TCS set to report Q1 numbers on July 9
** Investors have factored in a muted FY27 and will now focus on the commentary on future growth outlook during the upcoming first quarter earnings, Agrawal says
** YTD, IT index down 29.4% vs Nifty 50's .NSEI 7.7% drop


 (Reporting by Kashish Tandon and Vivek Kumar M in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))