Shares of Tata Consultancy Services (TCS), HCL Technologies and Infosys extended sharp gains as the AI frenzy continued to fizzle out, boosting sentiment for India’s IT stocks that are being seen as the so-called ‘anti-AI’ trade.
Nifty IT index has soared more than 2,000 points over just two sessions to cross 30,000 on Wednesday, marking the first time in nearly a month. This came as heavyweight HCL Tech shares soared nearly 11% in two days since its Q2 results, while TCS and Infosys rallied 6-10% during the same period.
