Markets – Sensex and Nifty Rise as IT, Realty and Banks Lead Gains
Markets – Indian stock markets closed firmly higher on Friday, with benchmark indices gaining around 1 per cent each as investors bought information technology, banking and real estate shares. The positive finish extended the market’s recent upward movement and reflected improved confidence ahead of the June-quarter earnings season.
Indian equities gain support from technology, banking and realty stocks –
The Nifty 50 ended at 24,206.90, rising 244.10 points, or 1.02 per cent. The BSE Sensex added 827.57 points, or 1.08 per cent, to settle at 77,569.39. Broad-based buying across several key sectors helped both indices maintain gains through the session.
Market participants focused on companies expected to benefit from stable demand conditions, favourable business updates and improving global sentiment. Financial shares contributed significantly to the advance, while technology stocks attracted strong interest following a recovery in overseas technology markets.
IT shares emerge as the strongest sectoral performers
The Nifty IT index rose nearly 2 per cent, making it the best-performing major sector during the day. Investors appeared encouraged by expectations that global technology spending could improve in the coming quarters.
Analysts said the outlook for the sector has been supported by relatively steady earnings projections and growing opportunities linked to artificial intelligence. Technology companies are also expected to benefit if corporate clients increase spending on digital services, cloud infrastructure and automation projects.
The recovery in global technology stocks added further support to domestic IT shares. A stronger performance by the sector could remain important for market sentiment as companies begin reporting their first-quarter financial results.
Realty and PSU bank stocks post sharp advances
Real estate shares recorded some of the day’s strongest gains, with the Nifty Realty index climbing more than 3 per cent. The sector has seen renewed buying interest as investors assess demand trends, housing activity and the prospects for listed developers.
Public sector banking stocks also performed well. The Nifty PSU Bank index rose about 3 per cent, supported by positive business updates from lenders and expectations of continued credit growth.
Other sectoral indices ended in positive territory as well. Nifty Chemicals, Nifty Metal, Nifty Cement and Nifty Oil & Gas gained up to 1.66 per cent. The broader participation indicated that buying was not limited to a small group of large-cap companies.
FMCG remains the only sector to close lower
The Nifty FMCG index was the only major sectoral measure to finish in negative territory. It slipped marginally by 0.08 per cent, suggesting that investors remained selective in defensive consumer-focused stocks even as the wider market moved higher.
The modest decline in FMCG shares did not significantly affect the overall market trend, as gains in IT, financials, realty and public sector banks outweighed the weakness in the segment.
Earnings outlook and lower crude prices improve sentiment
Market experts said investor confidence has strengthened at the beginning of the June-quarter earnings cycle. Positive updates from banks, a stable earnings outlook for IT companies and expectations of improving global demand have contributed to the constructive mood.
They noted that stronger-than-expected first-quarter earnings could reduce concerns about future profit growth and provide further support to the market’s upward direction. The recent rally has also widened beyond a few sectors, with metals and real estate attracting increased investor participation.
Lower crude oil prices added to the positive environment for Indian equities. Brent crude fell more than 1 per cent to $75.41 a barrel, while US West Texas Intermediate crude declined 1.27 per cent to $71.16 a barrel. Softer oil prices can help ease inflation concerns and support India’s external balance.
Foreign investor sentiment also improved as global technology shares recovered and crude prices moderated. Continued inflows from foreign institutional investors may remain an important factor for market direction in the sessions ahead.