Indian IT stocks surged in early trade on April 23, 2025, amid strong global cues and investor optimism following favorable commentary by former US President Donald Trump on Fed Chair Jerome Powell. The rally was further supported by upbeat Q4 earnings from HCLTech, lifting the overall sentiment for the sector.
At 9:22 AM IST, leading IT counters were trading significantly higher on the NSE. HCLTech led the gains with a 6.16% jump to ₹1,571.10, following its Q4 earnings that beat street expectations on several operational metrics. Infosys was up 3.03% at ₹1,465.90, while Tech Mahindra gained 3.33% to trade at ₹1,422.30.
Among other notable gainers, Coforge rose 3.16% to ₹7,176.00, Persistent climbed 3.01% to ₹5,110.50, and LTIM advanced 2.93% to ₹4,447.20. Tata Consultancy Services (TCS) was up 1.41% at ₹3,361.10, while Wipro gained 1.73% to ₹238.20. Tata Elxsi and Oracle Financial Services Software (OFSS) also saw modest upticks of 1.39% and 1.74% respectively.
The broader tech rally came on the back of a sharp rise in US futures overnight after Trump clarified he has no intention of firing Powell, easing investor concerns around Fed independence and interest rate volatility. Positive movement in Asian markets also added to the bullish tone.
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