Stock Market Live Updates Today: BSE Sensex, Nifty50 may see range-bound trading on rising crude oil prices, mixed global cues

Indian technology stocks extended their upward momentum for a third consecutive session on Tuesday, helping the Nifty IT index register its strongest single-day advance in a year. Market experts noted that the sector’s technical setup continues to look favourable, indicating that the rally may have further room to run.

The Nifty IT index climbed 4.2% to close at 31,116.6, marking its best daily performance since May 2025. Over the last three trading sessions, the index has gained 7.6%, significantly outperforming the broader market, with the Nifty 50 declining 1.8% during the same period. Tata Consultancy Services emerged as the biggest winner on Tuesday, surging 6.7%, while Infosys, HCL Technologies and LTIMindtree posted gains ranging between 4% and 6%.

According to Kunal Bajaj, Research Analyst at Choice Institutional Equities, optimism surrounding global software companies and growing evidence that artificial intelligence is expanding technology spending rather than disrupting established IT service providers have contributed to the sector’s recent strength.

He added that a weaker rupee, healthy deal pipelines and an improving outlook for discretionary technology spending are also providing support to IT stocks.
Technical indicators are reinforcing the positive sentiment. Ruchit Jain, Vice President at Motilal Oswal Financial Services, said the Nifty IT index has formed a bullish hammer pattern on the monthly chart, a signal often associated with a potential trend reversal. He noted that recent price action suggests a combination of short-covering in stocks such as TCS and HCL Technologies, alongside fresh buying interest in Infosys and Coforge over the past few sessions.

Despite the recent rebound, the sector has lagged the broader market this year. The Nifty IT index remains down 17.9% in 2026, compared with a 10.1% decline in the Nifty 50.

Jain believes the index could extend its recovery towards the 32,000–32,100 zone, which corresponds to the highs seen in April. Bajaj, meanwhile, said mid-sized IT firms have historically been better positioned to gain market share during periods of technological change due to their flexibility and adaptability. With valuation premiums moderating, he sees a favourable risk-reward balance in companies such as Coforge, Persistent Systems and Happiest Minds. Among the large-cap IT names, Infosys and Tech Mahindra remain his preferred picks.