Mumbai: Indian stock markets extended their recovery for a second consecutive session on Friday, with information technology (IT) stocks leading the gains, according to media reports.
The BSE Sensex rose 413.66 points, or 0.56%, to close at 74,729.27. The NSE Nifty 50 gained 148.80 points, or 0.65%, to settle at 23,146.15.
Tech Mahindra led the Sensex gainers, surging 8.45%. Tata Consultancy Services (TCS) advanced 4.61%, while Infosys climbed 4.55%. Buying in auto and metal stocks also supported the market.
The Nifty IT index rose 3.92%, making it the best-performing sectoral index. The gains followed encouraging quarterly earnings from some major technology companies.
However, losses in several heavyweight stocks limited the overall advance. IndiGo fell 2.23%, while Reliance Industries declined 1.09%. Asian Paints and ITC also ended lower.
Broader markets remained subdued, with mid-cap stocks recording modest losses and small-cap shares ending nearly flat.
Market sentiment received some support from the rupee’s strengthening against the US dollar. However, elevated crude oil prices and concerns over inflation and US bond yields continued to weigh on investor sentiment.
According to media reports, investors will watch upcoming corporate earnings, global market trends and foreign investor activity for further direction.
Analysts have identified 23,300 as a key resistance level for the Nifty, while the 22,700-22,900 range may provide support. Market direction will depend on earnings performance and broader economic developments.
Disclaimer:This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
