Indian IT stocks jump nearly 6% as global recession worries ease

Indian IT stocks .NIFTYIT jump 5.8%, set for their best day since April 2020

Wall Street stock futures climb as signs of progress in U.S.-China trade talks boost hopes of averting global recession MKTS/GLOB

Indian software services exporters derive over a third of rev from the U.S., where President Donald Trump's tariffs were seen dampening demand and boosting chances of a recession

All 10 Nifty IT stock .NIFTYIT in the green, ranging from Oracle Financial Services Software's 8% jump to Tech Mahindra TEML.NS 4.5% gain

Heavyweight Infosys INFY.NS up 6.8%, while market leader TCS TCS.NS up 4.8%

Analysts' avg rating on the index's stocks evenly split between "buy" and "hold" - LSEG data

IT index is down 12.4% YTD vs Nifty 50's .NSEI ~5% rise