Shares of leading Indian IT companies including Infosys Tech Mahindra and Tata Consultancy Services (TCS) Wipro surged on March 20 after the remarks by US Federal Reserve Chair Jerome Powell. While addressing reporters Powell spoke about concerns over economic growth and inflation rising after the Trump administrations recent tariffs on trade partners. He assured Fed’s earlier projection of two rate cuts in 2025 despite inflationary pressures and global uncertainties. Infosys TCS Wipro Shares Rise The positive sentiment lifted the Nifty IT index by nearly 1.3% to 36699 marking its highest level in the past five sessions. Gains in Indian IT stocks were similar to their US counterparts which also gained after Powells comments. Indian IT firms have strong business alliances with the US through exports. Any shifts in the US economic environment also impact on Indian IT sectors. Among the top performers Mphasis led the rally with its stock rising over 2% to trade at Rs 2332 per share. The stockfirst hit a 52-week low of Rs 2170.25 earlier this month and then regained to today’s level. TCS shares also climbed nearly 2% trading around Rs 3560 per share. HCL Tech saw a 1.7% gain trading at Rs 1571 per share while Infosys recorded a 1.5% increase to Rs 1610 per share. Other IT stocks including Tech Mahindra Wipro Coforge and LTI Mindtree also traded in the green contributing to the sector’s broad-based rally. Wipros stock rose by 3.11 per cent during the day to Rs 267.80 per share. The US Federal Reserve acknowledged the uncertainty around the economic outlook in recent weeks. However it highlighted that the current unemployment rate of 4.1% reflects a balanced labor market.