IT stocks gain for 2nd day; Coforge, Infosys lead

Meanwhile, the Economic Times daily newspaper is available online now.

Key points

• Top Trending Stocks: SBI Share Cost, Axis Bank Share Rate, HDFC Bank Share Cost, Infosys Share Rate, Wipro Share Cost, NTPC Share Rate.
• IT stocks extend gains for second day; Coforge, Infosys, Persistent Systems rise up to 3%.
• IT stocks extended gains for the second straight session, with Coforge and Persistent Systems leading the rally.
• Heavyweights including Infosys, Wipro, TCS and Tech Mahindra additionally traded higher.
• Power shift, a déjà vu: Air India could be new CEO's toughest flight yet.

IT stocks extend gains for second day; Coforge, Infosys, Persistent Systems rise up to 3%. ETMarkets.comLast Updated: Aug 20, 2026, 01: 47: 00 PM IST.

IT stocks extended gains for the second straight session, with Coforge and Persistent Systems leading the rally. Infosys, Wipro, TCS and Tech Mahindra additionally traded higher, lifting the Nifty IT index almost 2%. The rally was driven by value buying against the backdrop of a weaker rupee, with Indian IT stocks continuing to outperform global tech peers.

Shares of IT stocks extended gains for the second straight session on the BSE on Thursday, with midcap IT players Coforge and Persistent Systems leading the rally on value buying. Heavyweights including Infosys, Wipro, TCS and Tech Mahindra additionally traded higher. As the benchmark Sensex and Nifty 50 snapped a seven-day losing streak, the positive momentum lifted the Nifty IT index almost 2% after the opening bell. The Nifty IT index traded in the green. While shares of Persistent Systems climbed over 2% to Rs 5660, shares of Coforge rose over 3% to Rs 1881.15 on the BSE. Shares of Infosys gained over a percent to Rs 1132.15 on the BSE.

Why is market rising today? Sensex rallies 500 points, Nifty tops 24, 200. 5 key factors behind market rebound Why are IT stocks rallying in trade? The rally in domestic IT stocks continued for the second day on value buying throughout midcap and heavyweight counters against the backdrop of a weaker rupee. On Wednesday, India's IT majors defied a major global tech selloff over record-high bond yields. Live Events.

Though IT stocks outperformed on value buying and backing from a weaker rupee, '' noted Vinod Nair, Head of Research, Geojit Investments Ltd, according to a news report, ''Reflecting weakness throughout Asian markets, Indian equities saw broad-based selling. As per the report, the Q1 earnings for Indian IT majors was in line with muted expectations for most largecaps. The aggregate expansion trajectory for the top nine IT businesses remains stuck in low gear. Nifty IT has now underperformed Nifty 50 by ~11% in the year to date, despite the sharp bounce from May lows. Meanwhile, the index now trades at ~18x 1-year forward earnings, expensive in the context of AI deflation. Coforge Share Cost Shares of Coforge have declined over 9% in the year so far. In the longer-term, the shares of the firm have delivered over 19% returns in the last three years, and almost 40% in the last five years. Persistent Systems Share Cost Shares of Coforge have gained almost 3% in the last three months, but declined over 9% in the year so far. In the longer-term, the shares of the firm have delivered over 19% returns in the last three years, and over 39% in the last five years. Infosys Share Cost Shares of Infosys have declined over 6% in the last six months, and over 5% in the last one year. In the longer-term, the shares of the firm have delivered over 19% returns in the last three years, and over 39% in the last five years.

Coforgeinfosyspersistent systemstech mahindraIT stocksCoforgeInfosysPersistent Systemsmarkets newsstock market news.

Top Trending Stocks: SBI Share Cost, Axis Bank Share Rate, HDFC Bank Share Cost, Infosys Share Rate, Wipro Share Cost, NTPC Share Rate. Coforgeinfosyspersistent systemstech mahindraIT stocksCoforgeInfosysPersistent Systemsmarkets newsstock market news. Train station to rocket propellants, a Nagpur firm's INR21k-cr journey. Are patients paying the cost for India's PE-led healthcare boom? Notably, the Nifty doesn't predict India. It records it.

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Taken together, the developments around IT stocks gain for 2nd day; Coforge, Infosys lead point to a situation that is still moving, and the coming days should bring more clarity.