HCL Tech to Infosys, Tech Mahindra: Nifty IT extends winning streak, up 3% today: Is worst over for the battered sector?

The Nifty IT index surged around 3% intraday on July 3 to 27,718.45, extending gains after a 4.64% rally in the previous session and snapping a four-session losing streak during which it had fallen 6.5%. Sentiment improved after a sharp miss in US jobs data eased concerns over a potential Federal Reserve rate hike, lifting global tech shares. HCL Tech led the rally with a 4.5% gain, while Persistent Systems, Mphasis, Wipro, Tech Mahindra and Coforge rose between 2% and 3%; TCS, Infosys, LTIMindtree and LTTS added over 1% each. Despite the rebound, the index remains down 30% in H1CY26 and 29% over the past year, though analysts note valuations have corrected below long-term averages, improving risk-reward.