Infosys, TCS, HCL Tech, Tech Mahindra: Two factors why IT sector shares are rising today
Infosys, TCS, HCL Tech, Tech Mahindra: Sensex rose 847 pts to 77,588 and Nifty gained 264 pts to 24,226 in the current session. Two factors powered the rally of IT stocks and the broader market today.
- Jul 10, 2026,
- Updated Jul 10, 2026 12:18 PM IST
Shares of IT sector majors Infosys, TCS, HCL Technologies and Tech Mahindra were the among the top gainers today. Sensex rose 847 pts to 77,588 and Nifty gained 264 pts to 24,226. Two factors powered the rally of IT stocks and the broader market today.
One is the earnings of Tata Consultancy Services (TCS) announced on Thursday, which met street expectations. Global brokerage CLSA said the firm's revenue growth came better-than-expected. The IT firm clocked strong performance in banking, financial services and insurance, high-tech and regional markets.
Outlook for manufacturing, pharma and energy was "incrementally positive", it added.
Commenting on the Q1 show, Nomura said deal wins, including an $800-million mega deal, signaled reasonable visibility for a growth rebound, even as macro uncertainty weighed on the near-term outlook.
TCS shares, which are down 36% this year, gained over 4% to Rs 2132 in early deals. The rally in IT behemoth was accompanied by strength in other IT sector stocks.
Infosys shares gained 4% to Rs 1091 against the previous close of Rs 4.34 lakh crore. Market cap of the firm rose to Rs 4.34 lakh crore.
HCL Technologies stock was up 3.66% to Rs 1191.70 with market cap of the stock rising to Rs 3.16 lakh crore.
Tech Mahindra stock too rose 3.77% to Rs 1478. Market cap of the firm climbed to Rs 1.42 lakh crore.
The Nifty IT index, which is down 26% this year, gained 968 pts or 3.52% in early deals today.
Another factor, which powered positive sentiment in the market, was the rally in South Korea's Kospi Index. Kospi zoomed 6% or 413 pts powered by a rally in AI stocks.
SK Hynix shares rose 3% and Samsung shares rose 6% enthused by the South Korean semiconductor manufacturer raising $26.5 billion (£19.8 billion) through its New York share offering, completing the largest-ever stock market listing by a foreign company in the United States. The shares are scheduled to start trading on the Nasdaq on Friday.
SK Hynix, one of the world's largest memory chipmakers, has emerged as one of the biggest beneficiaries of the artificial intelligence (AI) boom as surging global investments in AI infrastructure continue to drive demand for high-performance memory chips.
The rapid expansion of AI has triggered hundreds of billions of dollars in investments worldwide in data centres and advanced computing infrastructure, boosting prospects for leading semiconductor manufacturers.
Reflecting the strong industry tailwinds, shares of rival memory chipmakers Samsung Electronics and Micron Technology have also more than doubled over the past several months.
Shares of IT sector majors Infosys, TCS, HCL Technologies and Tech Mahindra were the among the top gainers today. Sensex rose 847 pts to 77,588 and Nifty gained 264 pts to 24,226. Two factors powered the rally of IT stocks and the broader market today.
One is the earnings of Tata Consultancy Services (TCS) announced on Thursday, which met street expectations. Global brokerage CLSA said the firm's revenue growth came better-than-expected. The IT firm clocked strong performance in banking, financial services and insurance, high-tech and regional markets.
Outlook for manufacturing, pharma and energy was "incrementally positive", it added.
Commenting on the Q1 show, Nomura said deal wins, including an $800-million mega deal, signaled reasonable visibility for a growth rebound, even as macro uncertainty weighed on the near-term outlook.
TCS shares, which are down 36% this year, gained over 4% to Rs 2132 in early deals. The rally in IT behemoth was accompanied by strength in other IT sector stocks.
Infosys shares gained 4% to Rs 1091 against the previous close of Rs 4.34 lakh crore. Market cap of the firm rose to Rs 4.34 lakh crore.
HCL Technologies stock was up 3.66% to Rs 1191.70 with market cap of the stock rising to Rs 3.16 lakh crore.
Tech Mahindra stock too rose 3.77% to Rs 1478. Market cap of the firm climbed to Rs 1.42 lakh crore.
The Nifty IT index, which is down 26% this year, gained 968 pts or 3.52% in early deals today.
Another factor, which powered positive sentiment in the market, was the rally in South Korea's Kospi Index. Kospi zoomed 6% or 413 pts powered by a rally in AI stocks.
SK Hynix shares rose 3% and Samsung shares rose 6% enthused by the South Korean semiconductor manufacturer raising $26.5 billion (£19.8 billion) through its New York share offering, completing the largest-ever stock market listing by a foreign company in the United States. The shares are scheduled to start trading on the Nasdaq on Friday.
SK Hynix, one of the world's largest memory chipmakers, has emerged as one of the biggest beneficiaries of the artificial intelligence (AI) boom as surging global investments in AI infrastructure continue to drive demand for high-performance memory chips.
The rapid expansion of AI has triggered hundreds of billions of dollars in investments worldwide in data centres and advanced computing infrastructure, boosting prospects for leading semiconductor manufacturers.
Reflecting the strong industry tailwinds, shares of rival memory chipmakers Samsung Electronics and Micron Technology have also more than doubled over the past several months.