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Equity | News | Hot Pursuit
Hot Pursuit
IT stocks rally as Fed rate-cut hopes lift sentiment
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(10:28, 24 Nov 2025)
The Nifty IT index climbed 1.19% to 37,325.80 after sliding 0.43% over the previous two sessions.

Tech Mahindra led the pack with a 3.32% jump, followed by Coforge at 1.65%, Infosys at 1.53%, Mphasis at 1.50%, Persistent Systems at 1.24%, LTIMindtree at 1.18%, Wipro at 1.17%, HCL Technologies at 0.82% and Oracle Financial Services Software at 0.61%. Tata Consultancy Services was the lone laggard, easing 0.11%.

The rally mirrored the surge in US Fed rate cut expectations. The probability of a December move has shot up to 70% from 44% a week ago, based on CME's FedWatch Tool. Lower US rates generally lift economic activity, especially tech spending, and also enhance the appeal of emerging markets like India, which in turn supports foreign inflows.

A domestic brokerage noted that the long-discussed AI services upcycle may finally be approaching its turning point, drawing comparisons with the cloud investment boom seen between 2016 and 2018. With the compute backbone largely established, the brokerage believes fresh spending will now tilt toward AI-led services.

It added that the sector appears to be at its cyclical bottom, with the balance of risks shifting upward. Growth estimates have been revised higher to capture a recovery expected to take clearer shape in the second half of FY27 and gather full strength in FY28.

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