Sensex, Nifty snap two-day losing streak as IT, pharma and metal stocks lead gains
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Indian benchmark indices ended their two‑day losing run on Friday as IT, pharma and metal shares pushed sentiment higher.
Key Takeaways
- Sensex added 330.92 points (0.43%) to close at 77,264.51 and Nifty rose 84.80 points (0.35%) to 24,175.65, ending a two-day losing streak.
- IT shares led gains, with TCS, Tech Mahindra and Infosys among the Nifty’s top performers.
- Nifty MidCap rose 0.05% and Nifty SmallCap gained 0.2%, while Nifty Chemical was the weakest sector.
- Analysts attributed the bounce to renewed buying interest in core sectors after two days of declines.
The Sensex added 330.92 points, up 0.43 %, finishing at 77,264.51, and the Nifty climbed 84.80 points, up 0.35 %, closing at 24,175.65.
IT shares led the rebound, with Tata Consultancy Services (TCS), Tech Mahindra and Infosys figuring among the Nifty’s top gainers.
The broader market edged higher as well; the Nifty MidCap rose 0.05 % and the Nifty SmallCap added 0.2 %.
Among sector gauges, Nifty IT posted the strongest performance, buoyed by advances in major tech stocks, whereas Nifty Chemical was the weakest link, pulling down some of the overall market upside.
Analysts noted that the bounce in the benchmarks followed two straight days of declines, as buying interest returned to core sectors and lent support to the market.
“Strong advances in IT shares lifted Indian equities higher today. The sector got a boost from Nvidia’s solid earnings and optimistic outlook, which bolstered confidence in continued AI‑related spending and aided companies focused on enterprise AI deployment and workflow integration,” said an expert.
“Although favourable domestic liquidity conditions lend stability, lingering West Asia tensions and high crude oil prices stay on investors’ radar as they watch for any impact on growth and corporate earnings,” noted a market expert.
Experts added that the upcoming sessions will be key in deciding whether Friday’s gain signals the start of a wider recovery or is merely a technology‑driven bounce.
