IT Stocks to buy today | TCS share | HCL Tech share: Amid bloodbath in the Asian markets, the Indian stock market is witnessing strong buying since morning dealings. All IT stocks, except L&T Technology Services, are trading in the green territory with sizeable gains. IT major TCS shares are up by more than 2.50%, Tech Mahindra shares are up by near 3%, HCL Tech shares are up by more than 3%, Infosys shares are trading higher by around 2.25%, Wipro shares are also up by more than 1.50%. This has fuled the Nifty index by around 2.15%.
According to stock market experts, IT shares are rising because market is expecting AI-blowout after the Accenture guidance focusing on the traditional IT expenses in the next fiscal. This has spurt buying in the quality IT stocks, leading to sharp upside in the Nifty IT index, which is up by more than 2% on Thursday. They said that anti-AI trade in emerging markets is expected to attract FPIs to the Indian stock market, who had flown to other emerging markets like South Korea and Taiwan, a glaring example for Indian stock market rising despite bloodbath in the Asian markets today.
Experts also said that the Indian government has generated around $144 billion US Dollar through the FCNR bonds, which is now expected to boost the Indian Rupee against the major global currencies. So, boost in the Indian Rupee is expected to attract FPIs as they would be looking for the avenue for pumping money they are fishing out from the expected AI blowout.
Speaking on the reason for rally in the Indian IT stocks, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said, “Indian IT majors are rising because of the rising anti-AI trade in the emrging markets, especially in the Asian markets, where FPIs had flown junking the Indian stock market few years ago. This AI blowout triggered after the Accenture guidance, where IT spendings were increased in the next fiscal. This trigger worked further when TCS and HCL Tech reported improved margins and revenue in Q2 results 2026.”
The SMC Global Securities expert further said that the Indian government has raised around $144 billion through FCNR bonds, which is expected to strengthen the Indian Rupee. However, more clarity on this is expected as these US dollars will attract an additional 6% return pressure on the Indian government. So, how they plan to use these FCNR bonds will be an important trigger for FPIs.