Sensex Soars Over 650 Points, Nifty Crosses 24,100 as IT Stocks Rally After TCS Results

Benchmark equity indices opened sharply higher on Friday, with the Sensex surging over 650 points and the Nifty reclaiming the 24,100 mark.

As strong global cues and upbeat earnings from Tata Consultancy Services (TCS) triggered a broad-based rally led by IT stocks.

At 9:16 am, the BSE Sensex was up 652.79 points (0.85%) at 77,394.61, while the Nifty 50 gained 175.95 points (0.73%) to trade at 24,138.75.

The rally was supported by gains across banking, financial and technology stocks, while easing market volatility further boosted investor sentiment.

IT stocks lead the charge

Technology shares were the biggest drivers of the market after TCS reported stronger-than-expected June quarter earnings and offered an optimistic outlook, setting a positive tone for the earnings season.

The Nifty IT index jumped 3.18% in early trade, emerging as the best-performing sector.

Among the top Sensex gainers were:

TCS: +3.71%
Infosys: +3.58%
Tech Mahindra: +3.57%
HCL Technologies: +3.22%

Buying also extended to other sectors, with Consumer Durables, Metal, Media, PSU Bank, Financial Services and Cement indices trading firmly in positive territory.

In contrast, Realty, Pharma and Healthcare stocks witnessed mild profit-booking. On the Sensex, Bharti Airtel and Sun Pharma were the only stocks trading in the red during early trade.

Broader markets also advance

The rally was not limited to frontline indices. The Nifty Midcap 100 gained 0.78%, the Nifty Smallcap 100 rose 0.69%, while the Nifty 500 advanced 0.71%, indicating broad participation across market segments.

Meanwhile, the India VIX, often referred to as the market’s fear gauge, slipped 4% to 12.83, reflecting easing volatility and improved investor confidence.

Global markets provide support

Asian markets traded higher, tracking Wall Street’s technology-led rally as investors remained optimistic about artificial intelligence-driven growth despite continuing geopolitical tensions in West Asia.

Japan’s Nikkei rose around 1.8%, while South Korea’s Kospi surged nearly 4%, supported by strong gains in semiconductor and AI-linked companies. The broader MSCI Asia-Pacific index also remained in positive territory.

Oil prices ease

Brent crude traded near $76.03 per barrel, giving back part of its recent gains following conflict-related concerns in West Asia. The moderation in oil prices provided additional support to equities by easing worries over imported inflation and higher input costs.

Expert view

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said global markets have remained resilient despite geopolitical uncertainty.

According to him, while tensions in West Asia continue, equity markets have largely looked past the developments, with declining crude oil prices and strong global sentiment helping maintain investor confidence. He, however, advised investors to remain cautious and closely monitor geopolitical developments.

On the domestic front, Vijayakumar said India’s macroeconomic fundamentals remain supportive, adding that markets are likely to respond positively to encouraging first-quarter earnings. He expects financials, automobiles, select pharmaceutical companies and digital platform businesses to remain in focus, with buying opportunities emerging on market dips.