Fri May 02 08:30:00 UTC 2025: **NIFTY IT Index Rebounds After Initial Dip, Fueled by US Tech Earnings and Cognizant’s Growth**
**Mumbai, May 2, 2025** – India’s NIFTY IT index, a benchmark for information technology stocks on the National Stock Exchange (NSE), experienced a volatile day on Friday. After closing 0.35% lower at 35,795 on Wednesday, representing a 17% decline year-to-date, the index rebounded significantly on Friday.
The surge was driven by a positive performance in the US tech sector. The Nasdaq Composite surged 1.52% on Thursday following better-than-expected first-quarter earnings from tech giants Microsoft and Meta. Apple and Amazon also exceeded expectations in after-market trading. Meta, in particular, saw a 5.6% increase due to strong advertising revenue.
Further bolstering the positive sentiment was the strong revenue growth guidance from Cognizant, a major US-based IT firm with a substantial Indian workforce. Cognizant reported a 7.45% year-on-year revenue increase to $5.1 billion for the March 2025 quarter and raised its full-year growth projection to 3.9%-6.4%, up from the previous 2.6%-5.1%. The company also announced plans to hire 20,000 new employees in 2025.
This positive news propelled the NIFTY IT index to an intraday high of 36,188.60, a gain of 394 points or 1.10%. While the final closing price wasn’t provided in this release, the overall trend indicated a significant recovery from the previous day’s losses. Analysts attributed the positive movement to the improved outlook for the IT sector, fueled by strong US tech performance and Cognizant’s positive forecast.
First Piper 