Indian IT stocks traded higher on October 30 after Cognizant reported better-than-expected quarterly earnings for the quarter ended September 2026. According to reports from ET Now, the Nifty IT index surged as much as 1.9% with all constituents trading in the green. The rally was led by strong performance across major IT companies, with Coforge emerging as the top gainer in the index. This positive momentum came amid broader market strength, with the Nifty 50 closing 237.90 points or 1.05% higher at 22,936.75 and the BSE Sensex settling 905.01 points or 1.24% higher at 74,151.04 on October 29.
As reported by ET Now, Coforge was the top performer in the IT sector, rising 4.4% to the day's high of ₹2,047.40 on the NSE. The company was followed by Infosys, Tata Consultancy Services, Persistent Systems, and HCLTech among other major IT stocks. The broad-based rally across the IT basket reflected positive investor sentiment following the earnings announcements, with the sector benefiting from the overall market optimism that drove broader indices higher.
According to ET Now, Cognizant guided revenue to range from $5.49 billion to $5.57 billion for the quarter in progress, which missed the $5.65 billion consensus. The company's full fiscal year 2026 revenue guidance of $22.05 billion to $22.14 billion was also less than the $22.19 billion estimate. Despite the revenue miss, Cognizant reported strong operational metrics with adjusted EPS growing 7% and expanded adjusted operating margin by 30 basis points through the first nine months of 2026.
As reported by ET Now, Cognizant's revenue from different business segments showed mixed results. The Products and Resources segment generated $1.37 billion, falling short of the $1.42 billion average estimate and declining 0.9% year-over-year. The Health Sciences segment revenue was $1.59 billion versus $1.65 billion estimated, representing a 1.1% decline compared to the year-ago quarter. However, the financial services category showed strong performance with $1.77 billion revenue, surging 12% year-over-year and beating the $1.69 billion average estimate. The Communications, Media, and Technology segment's revenue was $939 million, increasing 10.5% compared to the year-ago quarter and exceeding the $873.5 million estimate.
