Indian equity markets staged a strong comeback on Friday, with the BSE Sensex soaring more than 800 points and the NSE Nifty reclaiming the 24,200 mark. The rally was fuelled by upbeat sentiment after TCS reported a better-than-expected quarterly performance, encouraging investors to return to technology stocks.
Positive global cues and sustained buying by foreign institutional investors (FIIs) further strengthened market momentum. Investors largely looked beyond geopolitical concerns and instead focused on the start of the June-quarter earnings season, which is expected to set the tone for markets in the coming weeks.
Technology stocks led the advance, with TCS and Tech Mahindra emerging among the top gainers after strong buying interest. Gains were also seen across several frontline sectors, reflecting broad-based participation in the market rally.
On the flip side, Trent and Kotak Mahindra Bank were among the biggest losers as investors booked profits in select counters. However, their decline did little to dent the overall positive sentiment.
Market participants now await earnings from other major companies, with analysts expecting stock-specific action to remain high. Investors will also keep a close watch on global developments, foreign fund flows and macroeconomic data for further market direction.