By Anubhav Maurya

Copyright republicworld

IT Shares Today: Indian equity markets saw a strong surge in IT shares on Tuesday, with the Nifty IT index jumping 2.61% to close at 36,175.75, its biggest single-day gain since May 12.The sectoral rally was led by Infosys, which soared nearly 5% after announcing that its board would consider a share buyback proposal later this week.Infosys was the best-performing Sensex stock and the single largest contributor to index gains. The buyback proposal, if approved, will mark the company’s fifth such initiative.Analysts said the move signals management’s confidence in future cash flows and long-term growth, while also rewarding shareholders through improved earnings per share.Despite Tuesday’s rally, Infosys shares remain down nearly 24% year-to-date, underperforming peers like TCS and HCLTech.The rally was broad-based across IT names. Oracle Financial Services Software (OFSS) surged 9.39% to Rs 9,203 after its US parent, Oracle Corp, reported strong growth in its cloud business, lifting sentiment for its Indian arm.Persistent Systems rose 4.94% to Rs 5,384.50, Coforge climbed 4.23% to Rs 1,768.40, and Mphasis advanced 3.86% to Rs 2,963.30.Large-cap majors also joined the uptrend: HCLTech gained 2.96%, LTIMindtree rose 2.92%, Wipro was up 2.91%, TCS climbed 1.98%, Tech Mahindra gained 1.94%, and Infosys closed 1.79% higher.The BSE Focused IT index also reflected the upbeat trend, adding 2.50% to end at 42,300.57.Multiple factors aligned to support the rally. Apart from Infosys’ buyback news, rupee depreciation and positive global technology signals boosted investor sentiment.The Indian rupee recently slipped past 88 per US dollar, which, while raising macroeconomic worries, benefits IT exporters by improving operating margins as revenues are largely dollar-linked.On the global front, Oracle Corp’s bullish cloud outlook provided an indirect lift to Indian IT names. The US software giant posted a 55% jump in cloud revenue, highlighting strong AI and digital transformation demand.This optimism spilt over to its Indian subsidiary OFSS and strengthened the broader view on cloud-driven growth.Another key sentiment driver was optimism around India-US trade ties. US President Donald Trump and Indian Prime Minister Narendra Modi both posted on X, expressing confidence in resolving trade barriers and strengthening bilateral relations.For India’s IT sector, which earns 55–60% of revenues from the US, smoother trade flows and policy clarity are crucial positives.Adding to the momentum, the recent US jobs report raised hopes of an interest rate cut by the Federal Reserve. Analysts said such a move would be supportive of technology spending in the US, indirectly benefiting Indian IT firms that provide outsourcing and digital services to American clients.