01 Jun , 2026 By : Debdeep Gupta
Nifty IT jumped more than 3 percent on Monday, with largecap shares such as Infosys and midcap stocks including Persistent Systems surging up to 5 percent, as a global rally in artificial intelligence-linked shares spilled over to Indian markets. Indian IT stocks bucked weakness across most sectors, making Nifty IT the best-performing sectoral index by a wide margin, while benchmark indices and most sector gauges remained subdued.
The gains were broad-based across both large-cap and mid-cap IT stocks. Infosys rose over 4 percent to Rs 1,208 and emerged as the top gainer on the Nifty 50. Tech Mahindra climbed 3.3 percent, TCS gained 2 percent, HCL Technologies added 1.7 percent and Wipro rose 1.2 percent. Five major IT stocks featured among the top gainers on the benchmark index.
The rally extended to the broader market as well. Persistent Systems jumped nearly 5 percent to top the Nifty Midcap 100 gainers list, while Mphasis gained 3.5 percent, Coforge rose 3.4 percent and KPIT Technologies advanced over 2 percent. Four IT companies featured among the top five gainers on the Nifty Midcap 100 index.
The sharp outperformance came even as the broader market struggled for direction. The Nifty 50 was up just 0.1 percent, while the Nifty Midcap 100 index was down around 0.7 percent. Most major sectoral indices, including auto, FMCG, private banks, realty and consumer durables, traded in the red.
The buying interest in Indian IT stocks mirrored strength in global technology shares, as investors continued to bet on rising spending linked to artificial intelligence infrastructure, semiconductors and data centres.
Asian markets remained supported by strong demand for AI-related companies. Japan's Nikkei extended gains after hitting record highs last week, while South Korean technology stocks rallied sharply on expectations of deeper collaboration with Nvidia and the broader AI ecosystem. Samsung Electronics jumped nearly 10 percent on Monday, while LG Electronics surged almost 28 percent.
Investor sentiment also received support from expectations that Nvidia Chief Executive Jensen Huang would use his keynote address at Computex in Taiwan to unveil further developments in artificial intelligence and advanced computing technologies.
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