Nifty IT jumps over 4%; Infosys, TCS shares surge up to 5%. Should you buy IT stocks at this juncture?

The Nifty IT index surged over 4 percent in intraday trade on 2 July 2026, with stocks including Infosys, Coforge, Mphasis, HCL Tech, Persistent Systems, and TCS rising up to 5 percent. The index, which had dropped 30 percent in H1CY26 and hit a three-year low of 25,699 on 1 July 2026, snapped a four-session losing streak. Experts, however, described the move as a technical bounce and cautioned that demand commentary is expected to stay soft in Q1FY27 due to AI-led disruption and weak discretionary spending.