Indian IT stocks gain on Fed rate cut optimism ahead of meeting

Mphasis

20/08/2025 07:42

** Indian IT stocks .NIFTYIT climb 2%, set for their best day since mid-May

** IT index top sectoral performer; benchmark Nifty 50 .NSEI up 0.2%

** Gains ahead of U.S. Fed's annual symposium in Jackson Hole, Wyoming, from August 21-23, with investors expecting  a 25-bp rate cut next month

** All 10 IT constituents in the green, led by 3.2% jump in Infosys INFY.NS and 2.4% rise in Mphasis MBFL.NS

** TCS TCS.NS, Wipro WIPR.NS and Tech Mahindra TEML.NS  up ~2% each; HCLTech HCLT.NS trading 0.5% higher

** Indian IT firms earn a significant share of their revenue from the U.S.

** However, IT stocks are the top losers among major sectors so far this year, declining 18%; Nifty 50 up 6% YTD

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))