TCS, LTIMindtree Shares Push Markets Up: Why Are IT Stocks Zooming?

Shares of major Information Technology (IT) companies climbed sharply on October 6, fueled by investor optimism ahead of the Q2FY26 earnings announcements. The rally lifted the Nifty IT index by nearly 2 per cent, making it the best-performing sector of the day.

The index touched 34,556.15, marking its third consecutive session of gains. Over this three-day streak, the Nifty IT has risen by almost 3 per cent, adding more than 900 points in total.

Key movers

Leading the charge was LTIMindtree, which surged close to 3 percent. Tata Consultancy Services (TCS) and Persistent Systems followed, each gaining over 2 per cent. Coforge, Tech Mahindra, and Mphasis also saw upward momentum, rising approximately 2 per cent apiece. HCL Technologies added over 1 per cent, while Infosys and Wipro recorded gains of around 1 per cent each.

The recent uptick comes after a period of weakness in IT stocks, which had been affected by concerns over rising H-1B visa fees announced by former US President Donald Trump. Analysts suggest that the upcoming quarterly results could set the tone for market sentiment in the sector, as investors weigh earnings growth against external regulatory challenges.

Also Read: IT Sector Expected To Deliver Modest Q2 Performance Amid US Regulatory Pressure: Report | Republic World

Earnings season in focus

The Q2FY26 earnings season for IT firms kicks off next week with TCS reporting its July–September quarter results on October 9. Tech Mahindra and Persistent Systems are scheduled to announce their numbers on October 14. Infosys and LTIMindtree are expected to follow on October 16, with investors closely watching revenue trends, deal pipelines, and margin performance.

Market participants note that expectations are mixed, with some anticipating steady growth amid global IT demand, while others remain cautious about macroeconomic pressures and potential visa-related headwinds in the US.

Overall, the sector’s recent gains reflect investor confidence in large-cap IT firms’ resilience, despite the uncertainties surrounding regulatory changes and global demand fluctuations. Analysts say the upcoming earnings will be closely scrutinized for clues on future performance and sector trends.