Why did Wipro, TCS, Coforge and other tech stocks rally up to 4.6% despite stock market sell-off? Explained

Wipro, TCS, and LTI Mindtree were among the few Nifty IT constituents that traded with sharp gains in today’s session (February 1), defying the broader sell-off in the Indian stock market. Wipro shares surged 4.6% to hit the day’s high of ₹247.3 per share, followed by LTI Mindtree, TCS, Persistent Systems, Mphasis, and Coforge, which gained between 1.5% and 3%.

Tracking gains among heavyweights, the Nifty IT index jumped 2% to 38,833, and if the rally holds through the session, the index is set to snap its two-day losing streak.