A roughly two per cent advance in the Nifty IT index on Tuesday, 13 October, followed the release of HCL Technologies' quarterly earnings covering the period through 30 September, which came in ahead of expectations. Three IT heavyweights — HCLTech, Infosys, and TCS — drove the index's upward movement.

Trading in the Nifty IT index — the NSE's benchmark gauge for India's top technology-sector listed companies — placed the reading at 28,855.65, a gain of 486.20 points that translated to a 1.7 per cent advance on the day. By the opening bell on Tuesday, 13 October, every one of the ten stocks making up the Nifty IT index had moved into positive ground. Over the course of the preceding week, the index had posted a gain of roughly 2.5 per cent.

Shares in HCL Technologies climbed to Rs 1,274.00, a gain of 4.17 per cent on the day. Tata Consultancy Services stock advanced to Rs 2,210.00, a gain of 4.00 per cent on the day. Trading in Mphasis lifted its share price by 3.38 per cent, bringing the stock to Rs 2,433.00.

Shares in LTM climbed 2.49 per cent on the day, reaching a traded price of Rs 4,119.00. Wipro's stock price climbed to Rs 165.38, a gain of 2.21 per cent on the day. Shares in Tech Mahindra climbed to Rs 1,501.60, reflecting a rise of 2.08 per cent on the day.

Shares of Infosys edged upward by 1.51 per cent, settling at Rs 1,035.45 on the day. Shares of Oracle Financial Services Software climbed to Rs 10,504.00, a gain of 1.39 per cent on the day. Shares in Coforge edged up 1.32 per cent, touching Rs 1,871.00 on the exchange. Shares in Persistent Systems edged upward by 0.95 per cent, landing at a price of Rs 5,842.00.

Tuesday's advance in the Nifty IT index drew support from several converging developments: stronger-than-anticipated quarterly results at a number of leading IT companies, an upward revision to HCLTech's revenue growth outlook, and positive signals flowing from global services firm Accenture.

HCLTech posted a consolidated net profit of Rs 5,132 crore in the July-to-September quarter of FY27, a figure that stood 21.18 per cent above what the technology company recorded in the same period a year earlier. Wider profit margins from its artificial intelligence division — a unit that has been expanding at pace — combined with a reduced tax burden to underpin the overall earnings increase.

For its FY27 financial year, the Noida-headquartered company narrowed its constant-currency revenue growth forecast to a band of 2.5 to 4 per cent — trimming the top of the range while nudging the lower threshold upward from the 1-to-4 per cent guidance that had been shared with investors earlier.

A worldwide collaboration between HCLTech and Anthropic took shape around the building of agentic AI capabilities. Through the arrangement, a specialised HCLTech division will take on the construction and rollout of secure agentic AI tools — drawing on Anthropic's Claude — for use by enterprise customers.

For the July–September 2027 quarter, TCS posted a bottom-line figure of Rs 13,884 crore, a gain of 14.9 per cent against the Rs 12,075 crore recorded in the same three-month window a year earlier. Operational revenue for the quarter ending in Q2FY27 came in at Rs 73,188 crore, marking an 11.2 per cent rise against the Rs 65,799 crore posted in the same period a year before. Compared with the prior quarter, the firm's bottom line expanded by 4 per cent, while turnover edged up 1.3 per cent. Measured against a constant-currency baseline, the 0.5 per cent uptick in revenue pointed to broadly flat trading conditions.

Accenture's fourth-quarter figures, which came in ahead of analyst forecasts, along with an upward revision to its FY27 guidance, lifted sentiment across IT stocks. Fourth-quarter takings at the global IT services company landed at USD 18.7 billion, a 7 per cent advance in constant currency terms that placed the result beyond the top of its own projected range. Fresh order intake reached a total of USD 22.2 billion across the period.

For FY27, Accenture has put forward a revenue growth forecast of between 3 and 6 per cent, a range that sits above what analysts had previously pencilled in at 2 to 5 per cent.

Quarterly earnings updates from HCLTech and TCS, combined with a favourable revenue forecast from Accenture, lifted the Nifty IT index when markets opened on Tuesday. HCLTech moved to the front of its sector after the company lifted its revenue growth forecast for FY27.