Bengaluru, January 17, 2026, 17:36 IST — The market has closed.
- Infosys closed the previous session up, buoyed by an upgraded FY26 revenue forecast.
- Investors weighed a packed earnings slate for the sector, pushing IT shares to the forefront of gains.
- All eyes turn to Monday’s reopen to see if the rally can stick.
Infosys Ltd (INFY.NS) ended Friday’s session at 1,689.80 rupees, marking a 5.6% jump from the previous close. 1
Shares climbed after Infosys raised its revenue outlook for fiscal 2026. The company now expects growth between 3% and 3.5% for the year ending March 31, 2026, up from the previous 2% to 3% range. This forecast is based on constant currency, excluding exchange-rate effects. 2
It happened alongside a steadier mood in the broader market. The Nifty 50 nudged up 0.11% on Friday, and the Sensex gained 0.23%, with IT stocks driving the sector rally. “Markets are unlikely to see a sustained directional move unless there is clarity on a U.S. trade deal,” noted Pankaj Pandey, head of retail research at ICICI Securities. 3
Infosys paved the way with its December-quarter report earlier this week, topping revenue forecasts but showing a profit dip linked to a one-off impact from India’s new labour laws. “There is an industry-wide recovery as certain tech spends can’t be postponed beyond a point,” said Centrum Broking analyst Piyush Pandey, calling the company’s forecast upgrade a “positive surprise.” CEO Salil Parekh claimed Infosys had become the “AI partner of choice” for its biggest clients. 4
Peers showed mixed signals. Wipro’s fourth-quarter revenue growth fell short of some forecasts, despite beating third-quarter revenue estimates. Meanwhile, its deal bookings dropped to the lowest level in six quarters. “Mainly, its guidance is below street expectations,” noted DAM Capital analyst Anmol Garg. 5
Tech Mahindra surpassed third-quarter revenue expectations on Friday but recorded a one-time expense related to the new labour codes. 6
Infosys’s sharp one-day jump was partly due to the calendar. India’s stock markets were closed Thursday for municipal elections in Maharashtra, and the next market holiday is Republic Day on Monday, Jan. 26. 7
The setup isn’t entirely one-sided. Infosys’ guidance points to low single-digit growth, and it hasn’t separately disclosed AI revenue, so investors are left to decide if the growing deal pipeline will translate into actual billings. Any fresh caution around discretionary tech spending would quickly become evident in bookings and sector commentary.
U.S. investors face a timing issue: the NYSE is closed Monday for Martin Luther King Jr. Day, meaning Infosys shares listed in New York won’t resume trading until Tuesday. 8
As trading restarts in India on Monday, Jan. 19, all eyes will be on Infosys to see if it can sustain the gains following its guidance. Investors will also be gauging if the sector’s earnings continue to signal a solid, “AI-led” demand that’s tangible, paid for, and repeatable.
