IT stocks on a roll as India-US trade deal boosts market sentiment; check top gainers
India-US trade deal: The BSE IT index surged 1,993 pts to 38,598 today against the previous close of 36,605.
- Feb 3, 2026,
- Updated Feb 3, 2026 11:13 AM IST
IT shares zoomed on Tuesday after India and the United States reached an agreement that would cut US tariffs on Indian imports from 25% to 18% with immediate effect. US first imposed tariffs on India on August 1, 2025, later doubling them to 50% effective August 27, 2025.
The BSE IT index surged 1,993 pts to 38,598 today against the previous close of 36,605.
Leading gainers on the index were Genesys International shares rising 10.49% to Rs 335, eMudhra stock gaining 6.32% to Rs 558.40, Zaggle Prepaid Ocean Services shares were up 5% to Rs 296.50, Ceinsys Tech stock rising 5% to Rs 1020 and Kellton Tech Solutions stock gaining 3.48% to Rs 16.05.
On Sensex, Infosys shares rose 2.4% to Rs 1668.75, HCL Technologies stock gained 1.78% to Rs 1706, TCS inched 1.45% higher to Rs 3218 and Tech Mahindra stock rose 0.77% to Rs 1737.05 in late morning deals on Tuesday.
The US accounts for a significant portion of India's total IT and software services exports. According to some estimates, US share can be as high as 70% of India's total IT export revenue. India's overall exports to the US, including non-IT sectors, are a smaller fraction compared to the IT sector.
The Nifty IT index also gained 2227 pts to 40,301 mark in the current session.
With today's rally, BSE IT index has gained 1.67% and Nifty IT index has risen 2.41% in 2026 amid India-US tariff showdown.
Meanwhile, Sensex jumped 2375.07 points, or 2.91%, to 84,041.53 and Nifty advanced 723 points, or 2.88%, to 25,811.40 on the back of positive investor sentiment post India- US trade deal.
IT shares zoomed on Tuesday after India and the United States reached an agreement that would cut US tariffs on Indian imports from 25% to 18% with immediate effect. US first imposed tariffs on India on August 1, 2025, later doubling them to 50% effective August 27, 2025.
The BSE IT index surged 1,993 pts to 38,598 today against the previous close of 36,605.
Leading gainers on the index were Genesys International shares rising 10.49% to Rs 335, eMudhra stock gaining 6.32% to Rs 558.40, Zaggle Prepaid Ocean Services shares were up 5% to Rs 296.50, Ceinsys Tech stock rising 5% to Rs 1020 and Kellton Tech Solutions stock gaining 3.48% to Rs 16.05.
On Sensex, Infosys shares rose 2.4% to Rs 1668.75, HCL Technologies stock gained 1.78% to Rs 1706, TCS inched 1.45% higher to Rs 3218 and Tech Mahindra stock rose 0.77% to Rs 1737.05 in late morning deals on Tuesday.
The US accounts for a significant portion of India's total IT and software services exports. According to some estimates, US share can be as high as 70% of India's total IT export revenue. India's overall exports to the US, including non-IT sectors, are a smaller fraction compared to the IT sector.
The Nifty IT index also gained 2227 pts to 40,301 mark in the current session.
With today's rally, BSE IT index has gained 1.67% and Nifty IT index has risen 2.41% in 2026 amid India-US tariff showdown.
Meanwhile, Sensex jumped 2375.07 points, or 2.91%, to 84,041.53 and Nifty advanced 723 points, or 2.88%, to 25,811.40 on the back of positive investor sentiment post India- US trade deal.