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NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%

Sensex, Nifty Rebound: IT Stocks Drive Gains Amidst Positive Global Cues

By Market DeskSensex, Nifty Rebound: IT Stocks Drive Gains Amidst Positive Global Cues

Indian markets Sensex and Nifty rebound Friday, fueled by strong IT sector performance and positive global sentiment, breaking a two-day losing streak.

Indian benchmark indices, the Sensex and Nifty, concluded Friday’s trading session higher, successfully breaking a two-day losing streak.

Key Market Performance

  • The 30-share BSE Sensex advanced by 330.92 points, or 0.43 percent, closing at 77,264.51.
  • The 50-share NSE Nifty increased by 84.80 points, or 0.35 percent, settling at 24,175.65.

This market recovery was primarily fueled by significant buying activity in blue-chip IT stocks and generally positive global market sentiments.

IT Sector Leads Gains

The IT sector’s strong performance was largely attributed to growing optimism surrounding AI-related investments. This sentiment received a bolster from Nvidia’s recent robust earnings and positive outlook.

  • Top Sensex Performers:
  • Tata Consultancy Services
  • Infosys
  • Tech Mahindra
  • HCL Tech
  • Titan
  • Eternal

Despite the overall market rebound, investor participation remained selective. Market participants awaited crucial comments from the Fed Chair at the Jackson Hole symposium, expected to provide clarity on the US interest-rate outlook and global liquidity conditions.

Broader Market & FII Activity

Other sectors also recorded gains, while some lagged behind the broader market momentum. Foreign Institutional Investors (FIIs) were net sellers on Thursday.

  • Gaining Sectors: PSU Bank, Bankex, MidSmall Private Banks, Metal.
  • Lagging Sectors: Insurance, Consumer Durables, Energy, Realty, Power, Oil & Gas.
  • FIIs offloaded equities worth Rs 298.26 crore on Thursday.

Global Cues and Weekly Close

Globally, Brent crude, the international oil benchmark, saw a slight dip. Asian markets presented a mixed picture, while European and US markets traded in positive territory.

  • Asian Markets Higher: Japan’s Nikkei 225, Hong Kong’s Hang Seng index.
  • Asian Markets Lower: South Korea’s Kospi, Shanghai’s SSE Composite index.

On a weekly basis, both the Sensex and Nifty registered declines, indicating a cautious broader trend despite Friday’s rebound.

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