Sensex, Nifty Extend Gains for Second Day as IT Stocks Lead Rally
MUMBAI — Indian benchmark indices extended their gains for a second straight session on Thursday, recovering from early losses to close higher, supported by strength in IT stocks and a firmer rupee.
The Nifty 50 rose 33.70 points, or 0.15 percent, to settle at 22,713.10, while the Sensex climbed 185.23 points, or 0.25 percent, to close at 73,319.55.
Market participants pointed to renewed buying interest in IT stocks as a key driver of the day’s gains. HCLTech and Tech Mahindra were among the top performers on the Nifty, while Infosys and Tata Consultancy Services also contributed to the upward momentum.
Among other gainers on the Sensex were HDFC Bank, Bajaj Finance, Maruti Suzuki, and Titan Company.
Despite the positive close in benchmark indices, broader markets lagged behind. The Nifty MidCap index ended 0.30 percent lower, while the Nifty SmallCap index declined 0.50 percent, though both trimmed earlier losses during the session.
Sectorally, IT and realty stocks outperformed, reflecting selective buying, while construction-related and pharmaceutical stocks came under selling pressure and ended among the worst performers.
Analysts said the strengthening of the Indian rupee also supported market sentiment, boosting investor confidence.
“The recovery suggests that markets are attempting to find a near-term base, supported by tactical buying rather than strong directional conviction,” a market expert said.
On the technical front, analysts noted that the 22,200–22,180 range now acts as a strong support zone for the Nifty. Sustaining above this level could support a short-term recovery, while the 22,700–22,800 range remains a key resistance band where selling pressure has previously emerged.
Markets will remain closed on Friday on account of Good Friday. (Source: IANS)
