IT Rebound To Extend? Infosys, Wipro ADRs Spike Up To 6% After Strong D-Street Show
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Infosys and Wipro shares rose over 4% on Tuesday after their ADRs surged in the US.
- ✓The rally followed strong earnings from HCL Technologies and eased concerns over US immigration policies.
- ✓Many investors now watch if this recovery will extend as the sector gets a boost from better market sentiment.
Story at a Glance
- Category
- MARKET
- Reported By
- NDTV Profit
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Indian IT stocks staged a strong rebound on Tuesday, with Infosys Ltd. and Wipro Ltd. gaining over 4% on the NSE after their American Depositary Receipts (ADRs) surged in US trade. The rally came amid improving sector sentiment, supported by strong earnings from HCL Technologies and easing concerns over US immigration policies.
The sharp gains in ADRs provided an additional boost to domestic shares, raising the question of whether the recovery in Indian IT stocks can extend into the coming sessions after recent pressure on the sector.
Infosys shares closed at Rs 1,062.10 on Tuesday, up Rs 42.10, or 4.13%, from the previous close. The stock opened at Rs 1,029 and touched an intraday high of Rs 1,064.
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