Why IT Stocks Rallied Today – 13 October 2026

Why IT Stocks Rallied Today – 13 October 2026 Nifty IT surged around 3.4% in morning trade, led by strong buying in HCL Technologies, TCS, Infosys and Wipro. The rally was driven by five major factors: 1. Strong HCL Tech Results: HCLTech reported Q2 FY27 net profit of ₹5,132 crore, up 11% quarter-on-quarter, with improving operating margins and strong deal bookings. 2. Positive TCS Earnings: TCS reported quarterly profit of ₹13,884 crore, exceeding market expectations and improving confidence in IT-sector earnings. 3. AI Business Growth: HCLTech's advanced AI revenue reached $219 million, rising 78% year-on-year, suggesting AI could create new business opportunities for Indian IT companies. 4. Value Buying: The Nifty IT index had declined approximately 23% year-to-date. Attractive valuations encouraged investors to accumulate beaten-down IT stocks. 5. Global Technology Rotation: Concerns over expensive AI infrastructure and semiconductor stocks encouraged renewed interest in traditional IT services companies. Reuters +2 Major IT Stock Performances Intraday gains reported during morning trading Stock Approx. gain HCL Technologies +5.4% TCS +5.4% Tech Mahindra +3.6% Wipro +3.1% Infosys +2.5% Here's Why +1 Market Outlook: Strong earnings and improving sentiment could support further recovery in IT stocks. However, traders should watch whether Nifty IT sustains its breakout with strong volumes, rather than chasing the rally at higher levels. NEXGEN RESEARCH | SEBI Registered Research Analyst