HCLTech, TechM, Infosys, TCS rise up to 3%. Why are IT stocks rising today?

IT stocks staged a broad-based rebound on Thursday, snapping a two-session losing streak as investors bought into software companies. The Nifty IT index climbed 0.94% to 28,799.25. Many shares rose after softer US inflation data boosted sentiment. Investors now wait for June-quarter earnings from Wipro and Tech Mahindra later today.