Wipro, OFSS, Persistent, other IT stocks rise amid positive sentiment; Nifty IT gains 1%

The positive momentum prompted the benchmark NIFTY50 index to trade over 1% higher on Monday’s intraday session, while fuelling the Nifty IT to hit its intraday high of 29,177.80 points, gaining 0.91% on May 25, compared to the previous market close.

Some stock-specific action, like in the case of Wipro and Oracle Financial Services Software (OFSS), was also supporting the sectoral benchmark index, Nifty IT, as the stock witnessed high volume gains amid a wider market rally on positive global cues.

Nifty IT returns

NSE data suggests that the sectoral benchmark index, Nifty IT, has been trading 2.4% higher in the last five trading sessions, and the index has gained nearly 2% in the past one month.

However, the IT sector index has lost a major part of its shareholder value in the last one year period, dropping over 22%, and 23% so far in the year 2026. The Nifty IT index was trading 4.72% lower in the last three months amid the wider selloff cues on the Indian stock market.

In the long term, the Nifty IT index has delivered 10% returns in the last five years, and near flat gains in the last three-year period.

Latest updates

The recent updates over a few weeks on the stock market showed that the Indian IT sector stocks were witnessing strong value buying interest and momentum based on several factors like the consecutive decline in the Indian rupee till last week, easing concerns over AI technology, and on the backdrop of the corporate earnings for the March quarter of the year ended 2025-26.

The IT companies in Q4 results have reiterated their stance to continue focusing on AI expansion and capabilities, as industry majors like Infosys, Tata Consultancy Services (TCS), HCL Tech, and Wipro invest in AI infrastructure and upskilling.

With the valuations becoming attractive due to the market correction, the IT sector was witnessing investors' support even at a time whent he overall benchmark indices were suffering the impact of a lower rupee, and rising geopolitical tensions. In the last one month period, IT stocks have received key support from the declining Indian rupee rate, which has weakened 1.5% against the US dollar due to the dynamic geopolitical environment and investors pulling out money from riskier emerging market bets.

If the rupee rate is weaker in the market, then the export-focused IT stocks gain as they witness support from rupee realisations from their US dollar revenues. Trading View data showed that the USD/INR spot price was trading at 95.27 as of 12:23 pm (IST), compared to the previous market close of 95.68 against the greenback.

On May 25, the market sentiment turned around to become positive as investors looked forward to a peace deal between the United States and Iran. Although the stocks were trading in the green, key growth indicators lacked momentum, limiting the gains of IT stocks.

Investors were also wary of taking Indian IT sector bets as the US market is set to remain closed for operations due to the scheduled Memorial Day holiday on Monday, May 25, 2026. Normally, traders prepare for global market cues in case of IT stocks, as the sector moves based on any developments or trends from Wall Street.

Latest media reports further added to the sentiment in the market as investors pinned their hopes of a near-term end to the West Asia conflict this week with a potential peace agreement between the United States and Iran.

Top IT stocks in focus

Trading volumes for Wipro shares surged past 40.9 million across both exchanges on the positive momentum, according to Trendlyne data.

Other stocks like TCS, Coforge, HCL Tech, LTM, and Infosys were also among the gainers on Monday, May 25.