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All 10 constituents of the Nifty IT index ended higher. HCL Technologies led the gains, surging 8.42%, followed by Tata Consultancy Services at 6.8%, Coforge at 4.46% and Infosys at 4.13%. The rally helped the Nifty 50 advance 1.6% to 22,721.95, while the Sensex rose 1.54% to close at 73,033.78. Read more: Strong buzz! Reliance Jio said to see over $20 billion bids as investors line up for India's biggest IPO HCL's second quarter net profit rose 21.2% year-on-year, beating analyst expectations. The earnings performance eased investor sentiment, which has been weighed down by concerns about AI-led disruption and slowing growth in traditional software services. A stronger dollar provided additional support to Indian IT exporters, which earn a substantial share of their revenues in foreign currencies. Read more: Anand Rathi Share and Stock Brokers Q2 results: Profit jumps 50% YoY to Rs 42 crore, revenue rises 20% The Nifty IT Index is still down over 21% so far against the 13% decline in the Nifty. The Nifty IT index also broke above the 27,614-28,755 range in which it had traded between September 24 and October 12, according to Sudeep Shah, head - Technical and Derivatives Research at SBI Securities. "The RSI is trending higher and approaching the 60 mark, signalling renewed bullish momentum. The zone of 28,600-28,500 is likely to act as immediate support, and the index may extend its pullback as long as it sustains above this zone," Shah said. "The sector may remain positive in the near term, supported by improving sentiment and buying interest following HCLTech's results, but after a sharp single-day rally, some profit-booking and volatility cannot be ruled out," said Gaurav Garg, head-research, Lemonn. Garg advised investors against chasing the rally, recommending a focus on companies with strong earnings visibility, healthy deal conversion and stable margins. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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