Explained: Why IT stocks ignored Donald Trump’s PERM suspension to gain Rs 70,000 crore in one day

IT stocks rallied up to 4% on Friday, adding Rs 70,000 crore in market capitalisation, driven by strong Q2 results from TCS, easing oil prices and bond yields, and developments around OpenAI. TCS gained after reporting 15% profit growth, while brokerages flagged near-term margin pressures and evolving AI-related risks.