Indian IT stocks on fire due to anti-AI trade, focus on traditional tech firms; should investors buy more to make money?

IT Stocks to buy today | TCS share | HCL Tech share: Amid bloodbath in the Asian markets, the Indian stock market is witnessing strong buying since morning dealings. All IT stocks, except L&T Technology Services, are trading in the green territory with sizeable gains. IT major TCS shares are up by more than 2.50%, Tech Mahindra shares are up by near 3%, HCL Tech shares are up by more than 3%, Infosys shares are trading higher by around 2.25%, Wipro shares are also up by more than 1.50%. This has fuled the Nifty index by around 2.15%.

Anti-AI trade triggers buying in IT stocks

According to stock market experts, IT shares are rising because market is expecting AI-blowout after the Accenture guidance focusing on the traditional IT expenses in the next fiscal. This has spurt buying in the quality IT stocks, leading to sharp upside in the Nifty IT index, which is up by more than 2% on Thursday. They said that anti-AI trade in emerging markets is expected to attract FPIs to the Indian stock market, who had flown to other emerging markets like South Korea and Taiwan, a glaring example for Indian stock market rising despite bloodbath in the Asian markets today.