IT stocks recover on US tech rally, value edge

Nifty IT index surged over 4.7%, breaking a four-day losing streak and emerging as the top-performing NSE sector, while the broader Nifty 50 gained 0.7%. The recovery was led by Infosys (up 5.6%), Tech Mahindra and TCS (up 4.5% each), with mid-caps Tata Technologies (6.5%), Persistent Systems, MphasiS and Coforge gaining between 5 and 6 percent. Analysts cited a US tech rally and attractive valuations after the recent correction, though technical analysts cautioned that the index remains below key moving averages and needs to cross the 27,600-27,700 zone for a sustained uptrend.