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Sensex ends nearly 1,000 points up (Img: Pinterest)
New Delhi: Indian equity markets ended Friday’s session with strong gains as information technology stocks attracted heavy buying interest, supporting benchmark indices despite mixed global cues. The rally was led by large-cap technology companies, along with banking and financial stocks.
The BSE Sensex climbed 964.58 points, or 1.25%, to close at 78,151.45, while the NSE Nifty gained 261.55 points, or 1.09%, to finish at 24,334.30.
The IT sector was among the top performers of the day, with the Nifty IT index rising 1.7%. Investors showed strong interest in technology majors amid optimism over business updates and upcoming earnings expectations.
Tech Mahindra emerged as the top gainer among major Nifty stocks, climbing more than 4%, while TCS gained over 3% as investors returned to large-cap IT counters.
The stock market witnessed strong buying interest in several leading companies, with Tech Mahindra emerging as the top performer. The stock gained ₹62.60, or 4.14%, to close at ₹1,572.90. Kotak Mahindra followed with a rise of ₹12.80 (3.39%), ending at ₹389.95. Jio Financial also posted a solid gain of ₹7.33 (3.11%) to close at ₹242.98. Meanwhile, TCS advanced by ₹68.00 (3.09%) to ₹2,269.00, and Reliance increased by ₹30.60 (2.36%) to finish at ₹1,327.20. These gains indicate positive momentum in the technology, financial, and energy sectors.
On the losing side, Hindalco recorded the steepest decline, falling by ₹15.15 or 1.58% to close at ₹944.15. Dr. Reddy’s Laboratories slipped ₹13.20 (1.08%) to ₹1,211.20, while Wipro declined ₹1.74 (0.98%) to ₹176.00. Sun Pharma also ended lower, losing ₹17.50 (0.90%) to settle at ₹1,932.60. Max Healthcare registered the smallest decline among the top losers, dropping ₹8.30 (0.76%) to close at ₹1,089.90. Overall, the market saw selective weakness in metal, pharmaceutical, healthcare, and IT stocks despite the broader gains in other sectors.
There was no major price spike in crude oil prices despite continued tensions between the US and Iran.
Brent crude was trading at $85.58 per barrel, up 1.60%, while WTI crude gained 1.84% to $80.40.
While crude prices remained high and moved higher during today's session, the absence of a much sharper spike despite the ongoing Gulf tensions offered some relief to domestic investors.
Crude oil prices are particularly important for Indian markets as the country is one of the world's biggest oil importers. A sharp and sustained rise in crude can increase India's import bill, add to inflationary pressures and put further pressure on the rupee.
The Indian rupee strengthened against the US dollar, ending the session at 96.28, compared with the previous close of 96.35.
With IT and banking stocks leading the charge, domestic markets closed the week on a positive note, keeping investor focus on earnings trends, institutional flows and global market developments.
