Infosys, HCLTech, TCS, other IT stocks soar up to 6%; Nifty IT rallies 5% as global AI slowdown calls boost sentiment

Shares of Indian IT companies surged up to 6% on Tuesday after OpenAI and Anthropic leaders called for a slowdown in AI development to manage risks and protect humanity, boosting sentiment for the tech stocks on Dalal Street.

Infosys, HCLTech, LTI Mindtree and Mphasis shares jumped around 6% each, while TCS and Tech Mahindra shares gained more than 5%. Persistent Systems, Wipro, OFSS and Coforge shares gained 2-4%. The sharp surge in IT stocks pushed the Nifty IT index around 5% higher on Tuesday morning, leading gains among the sectors.