IT Stocks in Focus: Infosys, TCS Eye Nasdaq Rally After Recent Sell-Off

• Infosys, TCS, and other IT stocks are in focus following Nasdaq's 2.18% rally on Friday, marking its biggest single-day gain since November.
• The rally in US tech shares, particularly semiconductors, comes after a massive sell-off in the preceding three sessions due to AI boom concerns.
• Last week, Nifty IT stocks declined 4-8%, with Infosys and TCS leading losses, fueled by a $300 billion software market cap wipeout after Anthropic's new tool release.
• Jefferies termed the bearish sentiment a "SaaSpocalypse," noting "get me out" selling due to AI's potential to erode application service revenues.
• Citi remains cautious on the IT sector, while the Nifty IT index previously closed 1.47% lower, with all constituents declining.