IT Shares Soar 4th Day: Infosys ADR Surge, Fed Rate Cut Hopes & Strong Accenture Drive Gains

• Indian IT shares, including Infosys and Wipro, rose for the fourth consecutive day, pushing the Nifty IT index up nearly 2% to 39,442.75.
• Infosys ADR surged to record highs due to aggressive short-covering and a short squeeze, though the company cited no material event.
• Softer US inflation data (2.7% in November) and Federal Reserve Governor Christopher Waller's comments fueled hopes for further Fed rate cuts.
• Strong Q1 results from Accenture, driven by AI solutions and better-than-expected revenue of $18.74 billion, boosted sector sentiment.
• Value buying after a prolonged downturn and a depreciating rupee against the US dollar also contributed to the IT sector's rally.

Why It Matters: Indian IT stocks rallied for the 4th day, driven by Infosys ADR, Fed rate cut hopes, Accenture results, and value buying.