Nifty IT Jumps 2% as Infosys Gains 4%, Wipro 3% on Buyback Buzz and Weak Rupee

The Nifty IT index surged over 2% today as all 10 constituents traded in the green. Infosys, Wipro, TCS led the rally, signaling renewed investor confidence in the sector.

Infosys Buyback Boost

Infosys was the biggest gainer, climbing nearly 4% after announcing that its board will meet on September 11 to consider a share buyback. If approved, this would mark the company’s first buyback in 3 years, triggering positive momentum across the IT basket.

Rupee Depreciation Advantage

The rupee dropped to a record low of 88.36 against the US dollar, slipping below the 88 mark. For IT companies, which derive most of their revenues from overseas markets in dollars, this depreciation means higher margins when earnings are converted back to rupees.

Sentiment Improves Despite US Risks

While the US recently proposed the HIRE Act, which could impose a 25% tax on outsourcing payments, markets chose to overlook the long-term risks. Investors instead focused on near-term positives, giving IT stocks a strong lift.

Also Read: Best Oil and Gas Stocks in India in August 2025!

Conclusion

Driven by Infosys’ buyback plans, a weaker rupee, and better market sentiment, IT stocks rallied strongly today. Although tariff concerns in the US remain a potential challenge, the sector regained momentum, with the Nifty IT index reversing some of its 19% year-to-date losses.

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