Nifty IT Posts Best Weekly Gain in 18 Years on Strong Q2 Earnings

what happened

The Nifty IT index climbed 11.72% over the week, its strongest weekly gain in 18 years, according to Mint, whose report was republished by TradingView. The index moved back above the 30,000 mark and touched an eight-month high.

Six of the ten index constituents finished the week up more than 10%. Tech Mahindra surged 18.7%, TCS gained 18.7%, HCL Technologies rose 17.3%, Infosys added 16.5%, Wipro climbed 16.4%, and LTIMindtree advanced 12.1%. The sector has recouped nearly half of its 2026 losses, after falling 32%, though its year-to-date decline still stands at 15.7%.

why it matters

The rebound was supported by September-quarter results from major companies that came in above expectations, easing worries about slowing demand and the effect of artificial intelligence on traditional software services. Investors also rotated back into software as the global AI trade weakened. The sector had earlier been hit by concerns over interest rates and sustained foreign institutional selling, so whether the rebound lasts will depend on revenue growth, deal wins and client spending.

market impact

Indian IT sector: earnings above forecasts and inflows into software support the Nifty IT index rally

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