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IT stocks rally as JPMorgan sees 40% upside potential

after close1 source ↓written by the desknot a recommendation

on Tuesday
2.5%
gain
2.72%
also advanced
1%
against the dollar
₹93.88

The Nifty IT index surged 2.5% on Tuesday, driven by a weaker rupee and positive global cues. Mphasis led the charge with a 2.72% gain, while TCS and Wipro also advanced over 1%. The rupee's decline to ₹93.88 against the dollar benefits export-oriented IT firms, fueling broad-based buying.

• Nifty IT index up 2.5%

• Mphasis gains 2.72%

• Rupee weakens to ₹93.88

This rally may enhance sentiment in the tech sector.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 24 Mar 2026, 16:11 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

MPHASIS closed +0.7% on the day of the news, from ₹2,116.80 to ₹2,132.10; Nifty +1.7% over the same session; futures OI −0.5%.

Bulletin at 16:11 IST on 24 Mar 2026. Every change is measured from ₹2,116.80, the last close before it, on 24 Mar. Nifty 50 is measured over the same sessions.

  • MPHASIS close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
MPHASIS closes around the bulletin against the close before the news, with Nifty 50 rebased to it186021232385axis spans 28%before the news · 24 Mar2117Nifty 50MPHASISbulletinD0+1+3+518 Mar1 Apr13 AprFutures open interest, lotspeak 21,000Reference close ₹2,116.80. 16 sessions from 18 Mar to 13 Apr; the price axis spans 28 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before24 Mar₹2,116.80basebase
On the day25 Mar₹2,132.10▲ +0.7%▲ +1.7%−1.0 pp difference
+1 session27 Mar₹2,117.000.0%▼ −0.4%+0.4 pp difference
+3 sessions1 Apr₹2,136.60▲ +0.9%▼ −1.0%+2.0 pp difference
+5 sessions6 Apr₹2,235.20▲ +5.6%▲ +0.2%+5.3 pp difference
Gap at the open, % · ₹
▲ +1.1%+23.07 on 25 Mar
Day's range, % · ₹
2.5%≈ 54 high to low
Volume on the day
1.87×the 20-session average
Futures OI on the day
▼ −0.5%−99 lots · short covering · price +0.7%
Futures OI open, lots
21,00025 Mar · 30 Mar expiry
Futures premium, ₹
−3.50−0.2% to spot
Puts per call, by OI
0.53from 0.50 the session before
Max pain
2,200from 2,150 the session before

Source NSE UDiFF bhavcopy · MPHASIS on the desk →

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