Infosys, TCS, HCL Technologies to Tech Mahindra: Why are IT stocks rising today?

Indian IT stocks rallied sharply on Friday, with the Nifty IT index gaining 2.3 percent for its second consecutive session of gains. Infosys, Tech Mahindra, and HCL Technologies led the surge with gains of more than 3 percent each, followed by TCS, Persistent Systems, Mphasis, and LTIMindtree, amid the ongoing Q1 earnings season. The rally also lifted broader markets, with the Sensex up 817.86 points (1.06 percent) at 78,004.73 and the Nifty 50 gaining 206.60 points (0.86 percent) at 24,279.60.