Markets opened on a strong note on Friday, with benchmark indices extending their gains for a third straight session as buying in information technology stocks and positive global cues lifted investor sentiment. The BSE Sensex surged over 500 points in early trade, while the NSE Nifty climbed above the 24,300 mark, reflecting optimism across sectors.
IT stocks led the rally, with HCLTech emerging as the top gainer after attracting strong investor interest. Tech Mahindra, Tata Steel, Tata Consultancy Services (TCS) and Infosys also posted healthy gains, helping push the benchmark indices higher. Buying was also seen in select banking and financial stocks, adding strength to the market’s upward momentum.
Among the laggards, Adani Ports, NTPC, Mahindra & Mahindra, State Bank of India and Kotak Mahindra Bank traded lower in early deals. However, losses in these stocks were outweighed by gains in heavyweight technology shares, keeping the overall market firmly in the green.
The rally was supported by positive global developments. Softer-than-expected US jobs data fuelled hopes that the US Federal Reserve may hold off on further interest rate hikes, improving the outlook for emerging markets. Lower crude oil prices also boosted sentiment, as easing energy costs are seen as favourable for India’s economy and corporate profitability.
Investors were further encouraged by continued buying from domestic institutional investors, which has helped cushion the impact of foreign fund outflows in recent sessions.
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