GENERAL1 Oct 2026
Nifty IT jumps 2%; Mphasis, Coforge, Infosys, TCS among top gainers - Reason behind the rally, Q2 results expectations | Stock Market News
On 1 October, IT stocks jumped even as the wider market fell. Nifty IT rose over 2%, with Mphasis, Coforge and Infosys leading. A weaker rupee near 96 per dollar helps, since IT firms earn in dollars. Brokers expect mid-tier IT to grow faster than large players this quarter. If you hold IT shares, keep an eye on the coming Q2 results.
Key Statutory Highlights
- Nifty IT rose over 2% intraday on 1 October, while the benchmark Nifty 50 declined more than 1% during the session.
- Mphasis gained 5%, Coforge 4% and Infosys 3%, with HCL Technologies, TCS, Tech Mahindra and Wipro also closing higher intraday.
- JM Financial expects mid-tier IT revenue to grow 2.7-13% quarter-on-quarter in constant currency, ahead of large-cap companies.
Actionable Advice for Taxpayers / Founders:Review your IT sector holdings calmly and wait for the Q2 results before making any buy or sell decision, since brokerage forecasts are expectations and not guaranteed outcomes.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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