IT shares rally on strong earnings outlook from Nvidia

Global IT shares rallied on Friday, buoyed by strong earnings and an upbeat outlook from Nvidia. The Nifty IT Index emerged as the top-performing sectoral index, surging 3.51%, marking its best single-day gain in two months. The market capitalisation of the top 10 IT companies soared by Rs 85,026 crore. Among major IT stocks, TCS jumped 4.16%, while Infosys gained 2.99%. HCL Technologies and Wipro advanced 2.66% and 2.58%, respectively.

“IT sector outperformed after Nvidia’s strong results and upbeat guidance reinforced optimism around sustained AI-related investments, which could benefit firms involved in enterprise AI deployment and workflow integration,” said Vinod Nair, Head of Research, Geojit Investments.