Markets – Sensex Rises 828 Points as IT and Bank Stocks Drive Gains

Markets – Indian stock markets ended Friday on a strong note, with benchmark indices gaining more than 1 per cent as investors turned optimistic ahead of the first-quarter earnings season. Lower crude oil prices, buying in technology shares and improved foreign investor sentiment also supported the session.

Market recovery gathers pace –

The Nifty 50 finished at 24,206.90, up 244.10 points or 1.02 per cent. The Sensex rose 827.57 points, or 1.08 per cent, to settle at 77,569.39.

The gains came after a short phase of weakness in the market, with investors returning to sectors expected to benefit from stronger corporate earnings and improving global conditions.

Earnings outlook supports sentiment –

Vinod Nair, Head of Research at Geojit Investments, said the market appeared to be recovering after the recent correction. He said positive updates from banks and a stable outlook for the IT sector had improved expectations for the June-quarter results.

According to Nair, technology companies could benefit from a possible recovery in global spending as well as growing opportunities linked to artificial intelligence. He added that better-than-expected earnings in the first quarter could ease concerns about future profit growth and help extend the broader market rally.

He also pointed to participation from real estate and metal stocks, suggesting that the rise was not limited to a small group of companies.

PSU banks lead sectoral advance –

Public sector bank shares were among the biggest gainers during the session. The Nifty PSU Bank index climbed more than 3 per cent, making it the strongest-performing sectoral index on the NSE.

The Nifty IT index rose 1.96 per cent, while Nifty Metal gained 1.48 per cent. Nifty Private Bank advanced 1.16 per cent and Nifty Auto added 0.69 per cent. Nifty Pharma closed marginally higher, rising 0.07 per cent.

Nifty FMCG was the only sectoral index to finish lower, slipping 0.08 per cent.

Crude prices and foreign flows remain in focus –

Easing oil prices contributed to the positive market mood. Brent crude was trading near USD 76.10 a barrel at the time of reporting, offering some relief to investors monitoring India’s import costs and inflation outlook.

Nair said the moderation in crude prices, together with renewed strength in technology stocks, had improved overseas sentiment towards Indian equities. This, he said, had helped bring back foreign institutional investor inflows.

Bullion prices moved lower during the day. Twenty-four-carat gold declined 0.65 per cent to Rs 1,44,359 per 10 grams, while silver fell more than 1.4 per cent to Rs 2,23,103 per kilogram.

Analysts see buying interest returning –

Riyank Arora, Associate Vice President for HNI and Derivatives at Hedged.in, said Friday’s rise showed renewed investor interest in equities. He said the broader market trend could remain positive if benchmark indices hold above key support levels.

Arora added that traders may continue to consider buying on declines, while keeping risk controls in place amid market volatility.

Asian equities also close higher –

The positive mood extended across major Asian markets. Japan’s Nikkei 225 rose 1.42 per cent to close at 68,721. Singapore’s Straits Times gained 0.65 per cent to 5,469, while Hong Kong’s Hang Seng advanced 0.45 per cent to 24,139.

South Korea’s Kospi recorded the sharpest rise among the listed regional markets, climbing 2.46 per cent to end at 7,475.