Indian IT stocks are likely to open higher after strong gains in global technology companies. On Monday, Cognizant, Accenture and Salesforce jumped between 4% and 6% in US trading. Infosys and Wipro also gained around 2%, while ServiceNow added further strength. This performance has lifted sentiment for Indian IT firms ahead of Tuesday’s session.
Interestingly, semiconductor majors such as Intel, Nvidia and AMD fell sharply, losing up to 8%. Analysts say this drop reflects investor caution around artificial intelligence development, with recent calls from industry leaders to slow down progress for safety reasons. Despite this, software and IT service companies continue to attract investor interest.
Market experts believe the rise in global IT peers is a positive sign for Indian technology firms. However, they caution that crude oil prices remain the biggest risk for Dalal Street. India imports nearly 85% of its oil, and higher prices could push inflation higher, widen the trade deficit and hurt company margins.
In summary, global IT strength may support Indian stocks, but the overall market direction will depend heavily on how crude oil prices move in the coming weeks. If oil prices ease, IT stocks may shine brighter; if not, gains could be limited.
