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Informist, Thursday, Jun. 25, 2026

 

MUMBAI – Information technology stocks are expected to remain volatile in the near-term, according to analysts covering the sector. Going forward, the direction of these stocks will depend largely on news flows, management commentaries, developments in US-Iran peace talks, progress in finalisation of the India-US trade deal, and cues on interest rate trajectory by the US Federal Reserve, analysts said. 

 

So far, commentaries by most companies' managements indicate that there is not much change in demand and the discretionary spending environment, Rishab Vasa, research analyst covering the sector at Indsec Securities & Finance said. He expects most IT companies to report weak earnings for the June quarter, both in terms of revenue and margin. However, a recovery is expected in the second half of 2026–27 (Apr-Mar). "Overall it (FY27) should be a better year as compared to last," Vasa said. 

 

This week, domestic IT bellwether Wipro in its integrated annual report for 2025-26 (Apr-Mar) flagged near-term caution for the sector amid the uncertain geopolitical environment, higher competition, artificial intelligence-driven productivity expectations and execution risks. Similarly, Tech Mahindra noted concerns about customer spending remaining cautious amid the uncertain macroeconomic environment. "We anticipate that customers shall be cautious in committing long-term IT spend, as they would want to watch out for macro stabilisation before embarking on large investments," the company said. 

Further, growing expectations of interest rate hikes by the US Federal Reserve in 2026, has also led to concerns over discretionary spending by US-based clients, from whom domestic IT companies earn a large chunk of their revenue. Futures markets peg the odds of a quarter-point interest rate hike in September at about 50%, compared to 34% a month ago, according to the CME Group's FedWatch Tool. 

 

In another development, Commerce and Industry Minister Piyush Goyal Thursday said India will not enter into a trade agreement with the US until it secures competitive advantage in the deal. This comment came a day after concluding discussions with US Trade Representative Jamieson Greer. 

 

Thursday, the Nifty IT index closed around 1% lower at 27330.85 points. Over the week, the index fell around 4% compared to the around 0.4?ll in the benchmark Nifty 50 and Sensex. Next week, the index is seen finding support at 26916.40 points and resistance at 28088.20 points. 

 

TOP HEADLINES

 

* HCL Tech expands collaboration with Google Cloud, ServiceNow
* IPO Alert: CSM Technologies issue subscribed 19% on opening day
* Infosys, Sentara in pact for AI-driven transformation of healthcare svcs
* HCL Tech lists four new radio access network apps on Nokia's marketplace
* Infosys, US advertisers' association, LIONS launch AI platform for CMOs
* Renewable energy firm Neste chooses HCL Tech for AI-led efficiency programme
* Tata Elxsi's NEURON platform helps European telecom co automate network ops
* HCLTech arm, Pearson launch science, technology learning centre in Bengaluru
* Affle 3i gets patent in India for system to detect fraud
* LTM joins Chainguard-led Athena to protect open source software in AI era
* IT svcs won't diminish, may become more important in AI era - Tech Mahindra
* AI will not replace IT cos like Infosys, says Chairman Nilekani at AGM
* Infosys inks multi-yr contract with GlobalFoundries to transform IT ops
* HCL Tech to build AI-powered framework with 2 US companies for telcos
* Wipro, Palo Alto Networks partner to deliver AI-driven cybersecurity svcs
* Caution on IT to persist in near term as macro environment uncertain - Wipro
 

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:

 

Company	Price	Week-on-week  change in %	Resistance	Support
COFORGE LTD	1492.90	2.00	1536.30	1463.70
HCL TECHNOLOGIES LTD	1100.70	(-)2.70	1146.60	1074.60
INFOSYS LTD	1041.20	(-)1.00	1078.30	1020.50
L&T TECHNOLOGY SERVICES LTD	3322.40	(-)0.30	3380.10	3276.10
LTM LTD	3762.60	(-)1.80	3870.90	3695.90
MPHASIS LTD	2263.40	(-)0.20	2321.40	2218.40
PERSISTENT SYSTEMS LTD	4841.50	0.30	5022.50	4736.50
TATA CONSULTANCY SERVICES LTD	2094.70	(-)1.40	2170.90	2049.90
TECH MAHINDRA LTD	1437.10	2.00	1490.30	1408.50
WIPRO LTD	175.00	(-)3.20	178.40	171.00
Index	Levels
NIFTY IT	27330.85	(-)0.40	28088.20	26916.40
NIFTY 50	24056.00	0.20	24341.50	23896.30
BSE SENSEX	77100.47	0.40	78109.00	76488.90

 

End

 

Reported by Arya S. Biju

Edited by Deepshikha Bhardwaj

 

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