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Domestic technology stocks are likely to attract investor attention when Indian markets resume trading on Tuesday, September 15, with Infosys and Wipro in focus after their American depositary receipts (ADRs) gained sharply in Monday's trade. Infosys and Wipro ADRs rose 6% and 1%, respectively, while ADRs of Cognizant, ServiceNow and Accenture gained as much as 5–8%, pointing to a potentially positive start for Indian IT stocks. The gains came even as Wall Street's technology stocks faced a sharp sell-off, with investors reassessing the outlook for AI spending after leading AI companies called for a slower pace of development. ADR shares are tools that foreign companies use to leverage a special certificate issued by a US bank to trade on the US stock market, similar to other regular US-based companies. The latest AI developments have triggered a shift in investor sentiment across the technology sector. Anthropic CEO Dario Amodei called for a slowdown in the development of advanced AI, while OpenAI CEO Sam Altman backed the proposal. The comments have raised concerns over future spending on AI infrastructure and semiconductors, weighing heavily on chipmakers such as Nvidia, Intel, and AMD. At the same time, investors appear to be reassessing the impact of a slower AI buildout on traditional software and IT services companies. The divergence comes after Indian IT stocks endured a sharp sell-off earlier this year amid concerns that rapid advances in AI and AI-powered coding tools could disrupt traditional software development and outsourcing businesses. Weak earnings growth, cautious management guidance, geopolitical uncertainty, and rising expectations of higher US interest rates have added to the pressure on the sector, dragging many stocks to multi-year lows. Barring Indian tech stocks, the AI theme has played a central role in driving major Asian stocks to multiple record highs this year, helping offset concerns over rising crude oil prices and ongoing geopolitical tensions. The recovery in Indian IT ADRs comes ahead of the US Federal Reserve's policy decision on September 16. Markets are pricing in about a 90% probability of a 25-basis-point rate hike, while a surge in crude oil prices has pushed the US 10-year Treasury yield to around 5%, adding to inflation concerns. For Indian IT stocks, the Fed decision, US bond yields, inflation commentary, and the evolving debate over the pace of AI development will remain key factors to watch, as Indian IT companies derive a significant portion of their revenue from North America and remain highly sensitive to US economic uncertainty and corporate technology spending trends. Disclaimer: We advise investors to check with certified experts before making any investment decisions. Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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