Persistent Systems, LTIMindtree Lead Gains As Nifty IT Outperforms Post DeepSeek Selloff
Persistent Systems Ltd. and LTIMindtree Ltd. led gains, with their stocks surging 5.91% and 3.70%, respectively.
In a strong rebound on Wednesday, the Nifty IT showed signs of recovery after a turbulent session, which saw a dip in technology stocks following the selloff caused by the Chinese AI app DeepSeek. The index rose over 2% and outperformed the Nifty 50, marking a recovery after it had ended 0.57% lower the previous day.
Persistent Systems Ltd. and LTIMindtree Ltd. led gains, with their stocks surging 5.91% and 3.70%, respectively. Persistent Systems shares rose to Rs 6,259, while LTI Mindtree stood at Rs 5,875 per share.
Other prominent players in the Nifty IT space also posted gains. HCL Technologies Ltd. climbed 1.82%, trading at Rs 1,724, while Infosys Ltd. rose by 2.29% to trade at Rs 1,871. Mphasis Ltd. recorded a notable 3.03% increase at Rs 2,971, and Tata Consultancy Services Ltd. saw a 1.67% gain.
Wipro Ltd. and Tech Mahindra Ltd. were also among gainers, rising 2.04% and 1.59%, respectively, to trade at Rs 309.80 and Rs 1,674.50 per share.
Broader market sentiment was buoyed by the recovery in US stocks on Tuesday, with Nvidia and other AI-related stocks recovering from sharp losses. The tech-heavy Nasdaq rose more than 2%, contributing to the optimism in the global markets, which likely spilled over into the Indian market as well.
Overall, early trade in Wednesday's session demonstrated a strong resurgence in the Nifty IT sector, with several top-tier stocks making notable gains.
DeepSeek is a free Chinese AI-powered chatbot that resembles ChatGPT in both its appearance and functionality.
