TCS, Infosys, Coforge, Other IT Stocks Rally up to 10% After Nvidia-Led Chip Rout. Is AI Trade Ending?

India’s out-of-favour stocks find new fans as AI trade reverses

Indian IT shares have been the biggest beneficiaries of the reallocation, with the Nifty ​IT index surging 16.7% in July as ‌the Philadelphia Semiconductor Index slumped 21%.

Indian shares buck AI carnage in Asia as IT stocks lead gains

Top Gainers & Losers on 28 July: Coforge, City Union Bank, Swiggy, TCS, Pine Labs, Nestle, among top gainers

Indian equity benchmarks closed Tuesday with slight losses as IT and realty stocks gains were offset by declines in FMCG and financial shares. The Nifty 50 and S&P BSE Sensex fell 0.04% and 0.07%, respectively, while Asian markets dropped sharply amid technology stock sell-offs.

TCS, Infosys, Coforge, other IT stocks rally up to 10% after Nvidia-led chip rout. Is AI trade ending?

Indian IT stocks rallied on Tuesday, with TCS, Infosys, HCL Tech, Wipro, Coforge and Tech Mahindra gaining despite a global sell-off in AI-linked stocks. Investors tracked the sharp decline in Nvidia, Micron, SanDisk, SK Hynix and Samsung shares for clues on AI sector sentiment.

TCS, Infosys, HCLTech, Coforge jump up to 9%: Why are IT stocks rising today?

Indian IT stocks rose on Tuesday as investors shifted from battered AI-linked shares. The move highlighted their defensive appeal ahead of the US Fed policy meeting.