NIFTY IT index rises over 1% led by LTIMindtree, Persistent Systems, TCS; here’s why

Shares of information technology (IT) companies were witnessing buying interest in trade on Friday, May 2 after tech heavy Nasdaq in United States surged 1.52% in trade on Thursday leading to a bullish sentiment for IT shares in India. Tech titans like Microsoft and Meta posted better than expected earnings in first quarter during the market hours. While, Apple and Amazon also beat expectations post market hours, according to various media reports.

Meta Platforms gained 5.6% after posting higher-than-expected revenue on the back of a strong advertising performance, the report added.

Meanwhile, strong revenue growth guidance in uncertain times for IT sector by IT giant Cognizant added to the bullish sentiment for IT shares, analysts said.

US-based IT major Cognizant, which has a substantial chunk of employees in India, has reported 7.45% year-on-year growth in revenue to $5.1 billion for March quarter of 2025.

The company has raised its full-year growth guidance to 3.9%-6.4%, from 2.6%-5.1% earlier.

The company plans to hire 20,000 freshers in 2025 -- a move intended to reshape the company's talent pyramid, particularly to support managed services and AI-led software development.

The measure of IT shares on the National Stock Exchange, NIFTY IT index rose as much as 394 points or 1.10% to hit an intraday high of 36,188.60.