While it was the third straight day of rally for Infosys’ ADRs, the spike was significant since Accenture beat Wall Street expectations for first-quarter revenue on Thursday. Infosys ADRs rose more than 5% on Thursday and 2.5% on Wednesday, according to data from Investing.com.
Accenture’s revenue increase was driven by robust demand for its artificial intelligence-based IT services. Shares rose 1.7% around this time to trade on the Nasdaq at $274.57.
In its fiscal 2026 guidance, the company expects full-year revenue growth to be 2% to 5% in local currency. “Excluding an estimated 1% impact from U.S. federal operations, the company continues to expect revenue growth to be 3% to 6% in local currency terms,” 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. Wall Street’s major indices posted significant gains, with the Nasdaq Composite leading the rally with a rise of almost 1%. Meanwhile, the Dow 30 rose 0.6% and the S&P 500 rose 0.7% around this time.
Wall Street stocks rose on new commentary from a senior Federal Reserve official and expected lower trading volumes during the holiday season, Reuters reported.
Citing CNBC, the report quoted New York Federal Reserve President John Williams as saying Thursday’s reading showing lower inflation was likely “skewed” due to data collection difficulties during the government shutdown, dampening enthusiasm over a report that had fueled hopes for more rate cuts. The comments come ahead of the final trading stretch of 2025, amid hopes for a Santa Claus rally.
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