Sensex, Nifty End Two-Day Losing Streak as IT, Pharma and Metal Stocks Rise
New Delhi — Indian benchmark stock indexes ended a two-session losing streak Friday, supported by gains in information technology, pharmaceutical and metal stocks.
The Sensex rose 330.92 points, or 0.43%, to close at 77,264.51, while the Nifty gained 84.80 points, or 0.35%, to settle at 24,175.65.
IT stocks led the rebound, with Tata Consultancy Services, Tech Mahindra and Infosys among the top gainers on the Nifty.
Broader markets also finished slightly higher. The Nifty MidCap index advanced 0.05%, while the Nifty SmallCap index rose 0.2%.
Among sectoral indexes, Nifty IT was the strongest performer, helped by gains in major technology stocks. Nifty Chemical was the biggest laggard and limited some of the broader market advance.
Market analysts said buying returned to key sectors after two consecutive sessions of losses, helping improve investor sentiment.
“Strong gains in IT stocks helped Indian equities close higher today. The sector was supported by Nvidia’s strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments and benefited firms involved in enterprise AI deployment and workflow integration,” an analyst said.
Analysts also pointed to supportive domestic liquidity conditions but warned that geopolitical tensions in West Asia and elevated crude oil prices remain important risks.
“While supportive domestic liquidity conditions provide stability to the market, unresolved West Asia tensions and elevated crude oil prices remain key monitorables, keeping investors watchful of potential risks to growth and corporate profitability,” a market expert said.
Investors will now be watching upcoming sessions to determine whether Friday’s gains develop into a broader market recovery or remain largely a technology-driven rebound. (Source: IANS)
