Indian IT stocks rose today, boosted by strong earnings reported by US IT services giant Accenture, which beat market expectations. Accenture’s better-than-expected quarterly results, especially its forecast for 3-6 per cent revenue growth in fiscal 2025, ignited optimism about the performance of Indian IT companies.
At the market open, the Indian benchmark indices (Nifty 50 and BSE Sensex) were trading flat, with the Nifty 50 hovering around 26,248.25 points and the Sensex inching towards an all-time high of 85,935.31. However, while financial stocks dragged down broader indices due to a 0.4 per cent decline, the IT sector rose nearly 3 per cent in morning trade. Market leaders such as Tata Consultancy Services ( TCS ), infosys , wipro and HCLTech posted gains of between 1.7 percent and 3.5 percent.
HCL Technology on Friday rose 2.5 per cent to an all-time high of Rs 1,828.55 apiece on the National Stock Exchange.
This positive sentiment follows Accenture’s report on strong demand for its AI services, generating $1 billion in bookings for the quarter and $3 billion for the full year. Accenture also reported fourth-quarter revenue of $16.4 billion, reflecting a 3 percent year-over-year increase. The company’s strong performance and fiscal 2025 forecast fueled optimism in India’s IT sector, with expectations that local IT companies, which rely heavily on US clients, could benefit from a demand similar.
Despite the moderate overall openness, the rebound in the IT sector highlights investors’ confidence in the growth potential of the technology industry. Analysts believe that continued growth in AI and digital transformation services will help Indian IT companies maintain strong performance in the coming quarters.
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