IT Stocks Rally: Nifty IT Jumps Over 1.3%; TCS, Infosys, Wipro Lead Gains

Indian IT stocks continued their upward momentum on Friday, October 23, with the Nifty IT index rising sharply as buying interest lifted shares of major information technology companies, including Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies. The rally comes even as global AI and semiconductor stocks witnessed a sell-off on Friday.

The Nifty IT index was trading at around 32,503, up 421.50 points or 1.31% in the latest session. TCS shares gained 3.05% to Rs 2,583.30, while Infosys advanced 2.32% to Rs 1,180.10. Wipro rose 1.47% to Rs 193.21, and HCL Technologies climbed 1.56% to Rs 1,443.90.

Among other IT stocks, Coforge gained 1.14% to Rs 2,509.10, Persistent Systems rose 0.65% to Rs 5,778, and Mphasis advanced 0.38%

to Rs 2,509.10.

Nifty IT Index Extends Gains

The Nifty IT index has witnessed a strong recovery over the past month. It was up around 15.34% over the one-month period, while the weekly gain stood at about 5.13%. The latest session’s advance adds to the recent positive momentum in the information technology sector.

TCS emerged as the strongest gainer among the IT stocks listed in the data, followed by Infosys. Gains across large-cap and mid-cap IT companies indicate broad-based buying in the sector.

Sell-Off In Global Tech Stocks

Asian shares fell on Friday as concerns over the enormous funding needs of AI hammered tech and led to the biggest daily rally in Treasuries in more than three years, with investors fleeing to sovereign bonds and safe-haven currencies.

MSCI’s broadest index of Asia-Pacific shares excluding Japan fell 0.3% on Friday, bringing its weekly loss to 2.7% and marking a fourth straight week in the red. Japan’s Nikkei dropped 1.3% and was down a whopping 5% for the week.

South Korea’s KOSPI skidded 1.7%, on course for a 4.3% weekly decline, with memory chipmaker SK Hynix down 2.5% on the day. Taiwan’s stock market was closed due to a typhoon.

An index of mainland Chinese blue chips lost 1.1% on Friday to hit the lowest level since July 2025. The index was down about 20% from its peak in late June. Hong Kong’s Hang Seng edged up 0.1% after dropping 3% on Thursday.