New Delhi: Indian benchmark indices snapped their two-day losing streak on Friday, with gains in IT, pharma and metal stocks lifting market sentiment.
The Sensex rose 330.92 points, or 0.43 per cent, to close at 77,264.51, while the Nifty gained 84.80 points, or 0.35 per cent, to settle at 24,175.65.
IT stocks emerged as the key drivers of the market recovery, with Tata Consultancy Services (TCS), Tech Mahindra and Infosys among the top gainers on the Nifty index.
The broader market also ended marginally higher. The Nifty MidCap index advanced 0.05 per cent, while the Nifty SmallCap index gained 0.2 per cent.
Among sectoral indices, Nifty IT emerged as the top-performing sector, supported by gains in leading technology stocks. On the other hand, Nifty Chemical was the biggest laggard, limiting some of the broader market gains.
Market experts said that the recovery in benchmark indices comes after two consecutive sessions of losses, with buying interest returning to key sectors and providing support to the overall market.
“Strong gains in IT stocks helped Indian equities close higher today. The sector was supported by Nvidia’s strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments and benefited firms involved in enterprise AI deployment and workflow integration,” an expert said.
“While supportive domestic liquidity conditions provide stability to the market, unresolved West Asia tensions and elevated crude oil prices remain key monitorables, keeping investors watchful of potential risks to growth and corporate profitability,” a market expert stated.
Market experts further stated that the coming sessions will therefore be crucial in determining whether Friday’s rebound marks the beginning of a broader recovery or remains a technology-led bounce.
IANS
