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Informist, Friday, Jan. 30, 2026

MUMBAI – Information technology stocks are likely to remain range bound in the coming week with stock specific movements expected following any sector specific announcements made in the Union Budget for 2026-27 (Apr-Mar). Market participants expect Finance Minister Nirmala Sitharaman to make announcements related to data centres and semiconductors, which are seen as positive for companies like Tata Consultancy Services and Cyient. 

Analysts expect the Nifty IT index to continue its range-bound movement in the near term. The sectoral index has been moving in a range of 37365 to 39139 points so far this month. This year, the index has risen 0.4% compared with the over 3% growth in the Nifty 50 and BSE Sensex. 

On Friday, the IT index closed over 1% lower at 11827.55 points. Over this week, the sectoral index fell 0.5%. All constituents of the index  barring Coforge, LTIMindtree, Mphasis, and Tech Mahindra fell over the week. 

Analysts expect more clarity on technology spending by clients in the March quarter earnings, with most of the US-based clients announcing their 2026 budgets. The domestic IT sector earns a major part of its revenue from the US. Discretionary spending towards the sector has been subdued amid the uncertain macroeconomic environment. 

TOP HEADLINES

* TCS Global study identifies critical gaps in AI adoption among retailers
* US-based life insurer picks HCL Tech for AI-driven technology transformation
* eClerx Services Oct-Dec consol PAT rises 4.8% on quarter to INR 1.92 billion
* Sagility Oct-Dec consol PAT rises 6.7% on qtr to INR 2.68 billion
* Wipro partners with Factory to accelerate agent-native software development
* Analyst Concall: Vishal Mega Mart to end FY26 with around 100 new stores
* Birlasoft Oct-Dec consol PAT rises 3.3% on quarter to INR 1.2 billion
* IPO Alert: Shadowfax Tech shares end over 11% lower on NSE on debut day
* Coforge board OKs amendment terms for Encora agreement
* Infosys, US-based Cursor to set up centre of excellence
* TCS to invest $37 million to set up delivery centre in Brazil
* HCL Tech partners with Western Union Co to launch global capability centre
* Intellect Design launches world's only AI-first payments platform in US mkt
* Coforge partners with Innovaccer to boost AI transformation in healthcare
* Earnings Outlook: Rise in stores to lift Vishal Mega Mart's Q3 sales, PAT
* Jio Fincl incorporates arm to manage alternative investment fund
* IPO Alert: PhonePe files updated DRHP for OFS of up to 50.7 mln shares
* HCL Tech to buy Singapore-based wealth mgmt firm Finergic Solutions
* IPO Alert: Transline Technologies gets SEBI nod for up to 16.2-mln-share OFS
* Infosys inaugurates new office in Zurich, Switzerland
* ICRA ups rtg on Sagility's long-term bk facilities to 'BBB+', outlook stable

Following are the resistance and support levels for key IT stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Arya S. Biju

Edited by Akul Nishant Akhoury

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