AI optimism boosts Indian IT stocks, Nifty IT rises
Indian IT stocks had a strong Friday, with the Nifty IT index up over 2.5%.
Infosys, Wipro, and TCS led the charge, thanks to renewed excitement around artificial intelligence (AI) in the industry.
This upbeat mood is a welcome shift after earlier worries that AI might shake up traditional outsourcing jobs.
Wipro shares rise after ServiceNow partnership
Wipro's shares climbed more than 2% after it announced an expanded partnership with ServiceNow to roll out "agentic AI" across areas like IT services, HR, and cybersecurity.
The move aims to boost automation and cut down on repetitive work for businesses.
Infosys near 4% as peers rally
The good vibes didn't stop at Wipro. Infosys jumped nearly 4%, while Coforge, LTIMindtree, and Persistent Systems each gained about 3%.
Mphasis, HCLTech, and TCS also saw solid gains around 2%, showing investors are feeling confident about Indian IT's future with AI in the mix.