Indian IT stocks surged on Thursday, with the Nifty IT index reaching a new high of 46,000. Companies like Coforge and Tech Mahindra led the gains, rising up to 4%, fueled by positive U.S. inflation data and hopes of a Fed rate cut.

Among the top gainers in the Nifty IT index, Coforge led the pack with a 3.17% rise, followed by Tech Mahindra, which gained 1.34%.

Mirroring stellar gains in the tech-heavy Nasdaq index, the Nifty IT index also soared to a new peak in Thursday's session.

Nifty IT rallied to a record high of 46,002.65 as rupee depreciation, a Nasdaq surge, and hopes of a Federal Reserve rate cut boosted investor sentiment, driving IT stocks higher.