Indian IT stocks added Rs 70,000 crore in a single session, shrugging off Trump's PERM suspension. That's the tell — visa scares no longer move this sector; the tape is trading deal wins and margins,

What happened: Indian IT stocks rose despite the US Department of Labor saying it would stop accepting or processing new applications from Cognizant, Infosys, Capgemini, Wipro, TCS and HCLTech. The sector gained Rs 70,000 crore in one day. Key numbers: Wipro rose nearly 3% to Rs 163. TCS jumped over 6% to Rs 2,204 after Q2 net profit grew 15% YoY to Rs 13,884 crore. Why it matters: TCS Q2 results and an upbeat market mood outweighed the PERM suspension news. Nomura kept a Buy rating on TCS with a Rs 2,630 target, noting flat deal wins and subdued near-term margins.

Indian IT stocks rose despite the US Department of Labor saying it would stop accepting or processing new applications from Cognizant, Infosys, Capgemini, Wipro, TCS and HCLTech. The sector gained Rs 70,000 crore in one day.

TCS Q2 results and an upbeat market mood outweighed the PERM suspension news. Nomura kept a Buy rating on TCS with a Rs 2,630 target, noting flat deal wins and subdued near-term margins.