Infosys buyback makes IT stocks break 5-day losing streak. Should you buy, sell or hold?

Hit hard by multiple headwinds, including fresh threats from the Trump administration’s proposed HIRE Act, IT stocks broke away from a 5-day losing streak after Infosys announced that it will consider a share buyback on September 11.

At about 3:10 pm, Nifty IT index was quoting at 35,262, up nearly 3%, snapping its 5-day losing streak on the bourses. Infosys led the pack with gains of about 5%, followed by Wipro, Tata Consultancy Services, Tech Mahindra, HCL Tech, and LTIMindtree, rising up to 2.5%. Infosys and TCS shares are in a bear market, down 20% and 25% year-to-date. Nifty IT is also the worst sectoral performer this year.