3 hrs ago
Sensex Rebounds 800 Points as IT Stocks Shine
Indian stock markets rose on Friday morning after falling sharply the day before.
The Sensex gained about 800 points, and the Nifty moved above 22,450.
Technology shares helped lead the rise.
Tata Consultancy Services shares advanced after the company reported stronger AI-related revenue and international business growth.
Some easing in crude oil prices also supported the market.
On Thursday, foreign investors sold many Indian shares, while domestic investors bought shares and softened the impact.
Investors are still watching oil prices, events in West Asia and company earnings.
They will be looking to see whether the market’s recovery continues.
Indian markets rallied Friday morning, with the Sensex gaining around 800 points and the Nifty rising above 22,450.
Information technology shares led the recovery; an earlier snapshot showed the Nifty IT index up 2.9%.
Tata Consultancy Services rose 3.5% after reporting stronger AI-related revenue and growth in international business.
The rebound followed Thursday’s declines of 1,045.46 points for the Sensex and 371.25 points for the Nifty.
Investors remained focused on crude prices, foreign investor selling, corporate earnings and developments in West Asia.
- Who
- Indian equity markets, including the Sensex and Nifty, with information technology shares leading gains.
- What
- Markets rebounded, with the Sensex gaining around 800 points and the Nifty moving above 22,450.
- Where
- Indian equity markets; the report is from Mumbai.
- When
- Friday morning; the rebound followed Thursday’s sell-off.
- Why
- Buying in technology shares and some easing in crude oil prices supported the recovery.
Factors Supporting Gains
Factors Weighing on Markets
Market direction
Factors Supporting Gains
Buying in IT shares, stronger TCS results and some easing in crude prices supported Friday’s recovery.
Factors Weighing on Markets
Rising oil prices, elevated global bond yields and foreign investor selling contributed to Thursday’s sharp decline and remained concerns.
Investor flows
Factors Supporting Gains
Domestic institutional investors bought around ₹10,703 crore of equities on Thursday, partly cushioning market outflows.
Factors Weighing on Markets
Foreign institutional investors sold approximately ₹12,944 crore of Indian equities on Thursday.
Key facts
- Sensex Friday morning
- Gained around 800 points.
- Nifty Friday morning
- Moved above 22,450.
- Earlier Nifty IT reading
- Up 2.9% at 9:22 am IST.
- Tata Consultancy Services
- Rose 3.5% in the earlier snapshot after its September-quarter results.
- Thursday Sensex close
- 71,593.24, down 1,045.46 points or 1.44%.
- Thursday Nifty close
- 22,231.80, down 371.25 points or 1.64%.
- Thursday institutional flows
- Foreign institutional investors sold about ₹12,944 crore; domestic institutional investors bought around ₹10,703 crore.
Sources
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