Meanwhile, Wipro ADRs jumped over 7% to hit $3.07 on the NYSE.
While it was the third successive day of rally for Infosys’ ADRs, the spike has been significant since Accenture beat Wall Street expectations for first-quarter revenue on Thursday.
The Infosys ADRs rallied over 5% on Thursday and 2.5% on Wednesday, according to Investing.com data.
Accenture’s revenue beat was driven by robust demand for its artificial intelligence-driven IT services. Its shares were up 1.7% around this time and trading at $274.57 on the Nasdaq.
The company in its fiscal 2026 outlook expects a full-year revenue growth to be at 2% to 5% in local currency. “Excluding an estimated 1% impact from its U.S. federal business, company continues to expect revenue growth to be 3% to 6% in local currency,” the company filing said.
Accenture’s results are often seen as a harbinger for the broader IT sector and indicate trends for the Indian IT sector. Frontline indices on Wall Street traded with significant gains with Nasdaq Composite leading the rally with nearly 1% uptick. Meanwhile, Dow 30 was up 0.6% and S&P 500 gained 0.7% around this time.
Wall Street stocks climbed following fresh commentary from a senior Federal Reserve official and anticipated lower trading volumes in the year-ending holiday stretch, Reuters reported.
Citing CNBC, the report quoted New York Federal Reserve President John Williams that Thursday’s reading showing lower inflation was likely “distorted” due to data-collection problems during the government shutdown, dampening enthusiasm about a report that had boosted hopes for more interest rate cuts. The comments come ahead of the final trading stretch of 2025 amid hopes of a Santa Claus rally.
