IT Stocks Rebound On April 27 As Nifty IT Gains Nearly 2% After Previous Session Decline

IT stocks recovered in early trade on April 27, with the Nifty IT index rising 1.88% after a steep fall in the previous session, according to publicly available market data.

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At around 09:45 am, the Sensex was up 490 points or 0.6% at 77,154, while the Nifty50 gained 157 points or 0.7% to 24,055, supported by gains in technology stocks.

Frontline IT Stocks Lead Gains

Shares of Infosys rose 1.79%, Wipro gained 2.03%, and Tech Mahindra advanced 2.16% during early trade. Tata Consultancy Services (TCS) was up 1.3%, while HCL Technologies gained 0.9%, based on exchange data.

Infosys was among the top contributors to the Nifty50 gains, reversing part of its nearly 7% decline recorded in the previous session.

Recovery After Sharp Sell-Off

This rally comes amid a drop across the board in IT stocks on April 26, when the Nifty IT Index declined more than 5% following weak forecasts after results came out.

Infosys had projected revenue growth of 1.5%–3.5% in constant currency for FY27 in its latest results, as per company disclosures, which had weighed on sector sentiment in the previous session.

Broader Market Support

Market breadth remained positive, with over 2,600 stocks advancing compared to 742 declines, according to exchange data. The India VIX declined more than 4%, indicating lower market volatility.

Similarly, other industries like pharmaceuticals and metals witnessed gains, adding further strength to the overall market in the session.

Performance of Sectors

It is clear that the Nifty IT Index was among the indices that performed the best, following the gains experienced after losses resulting from earnings guidance and poor demand globally.

Information released recently indicates that customers are spending longer periods deciding and conducting transactions, which has led to drops in the IT index previously.

This session signifies a bounce back in IT stocks after their steep fall, with the leaders being large-cap technology companies.