The BSE Sensex surged 827.57 points (1.08%) to close at 77,569.39, while the NSE Nifty 50 climbed 244.10 points (1.02%) to settle at 24,206.90. Over the past two trading sessions, the Sensex has gained 1.35% and the Nifty has advanced 1.33%.
By Our Business Correspondent
Indian equity benchmarks ended sharply higher on Friday, extending gains for a second straight session, as robust buying in information technology, banking and financial stocks lifted investor sentiment. Better-than-expected quarterly earnings from Tata Consultancy Services (TCS), easing geopolitical concerns in the Middle East and supportive global cues helped the Nifty reclaim the 24,200 mark.
The BSE Sensex surged 827.57 points (1.08%) to close at 77,569.39, while the NSE Nifty 50 climbed 244.10 points (1.02%) to settle at 24,206.90. Over the past two trading sessions, the Sensex has gained 1.35% and the Nifty has advanced 1.33%.
Broader markets outperformed the benchmark indices, with the BSE MidCap Index rising 1.40% and the BSE SmallCap Index gaining 1.20%, reflecting improved risk appetite among investors.
Market breadth remained firmly positive on the NSE, where 2,339 stocks advanced, 973 declined, and 98 remained unchanged.
Investor confidence was bolstered by lower crude oil prices, a stronger rupee and a sharp decline in market volatility. The India VIX, the market’s fear gauge, fell 8.30% to 12.25, indicating reduced near-term uncertainty.
IT, Banks Lead Rally
Information technology shares attracted strong buying after TCS reported better-than-expected June quarter earnings and signalled improving demand trends. Banking stocks also remained in focus following encouraging earnings from several public sector lenders.
Heavyweights Reliance Industries gained 2.36%, ICICI Bank rose 1.48%, and HDFC Bank added 0.85%, providing significant support to the benchmark indices.
Top Gainers
Among notable gainers, Ion Exchange India rallied 17.38% after securing an overseas order worth approximately ₹503 crore from Hyundai Engineering & Construction for a Middle East project.
Muthoot Microfin jumped 13.19% following strong business updates, while Indian Bank soared 10.11% after reporting a 10.1% year-on-year rise in first-quarter net profit to ₹3,273 crore.
Other gainers included Ceinsys Tech (up 3.66%) on a new government contract, Apollo Micro Systems (up 2.57%) after announcing the acquisition of a controlling stake in Premier Explosives, Bank of Maharashtra (up 2.43%), RailTel Corporation (up 2.31%), Anand Rathi Wealth (up 2.12%) and HFCL (up 0.57%) after securing an international order.
Top Losers
On the downside, Premier Explosives declined 3.92% after its promoters agreed to sell a 41.33% stake to Apollo Micro Systems. Eimco Elecon (India) slipped 1.72% following a sharp fall in quarterly profit despite higher revenue.
The Nifty FMCG Index was the only sectoral index to close in the red, while all other NSE sectoral indices ended with gains.
Global Cues Support Sentiment
Global markets remained supportive as investors welcomed signs of continued diplomatic engagement between Washington and Tehran, easing concerns over a wider Middle East conflict. European and most Asian markets ended higher, tracking overnight gains on Wall Street led by semiconductor stocks.
US futures also traded in positive territory, while optimism surrounding artificial intelligence-related investments and strong corporate earnings continued to underpin global risk sentiment.
Commodities and Currency
Brent crude futures eased 0.13% to $76.20 a barrel, while the Indian rupee strengthened to 95.32 per US dollar from 95.47 in the previous session.
India’s benchmark 10-year government bond yield declined to 6.711%, while MCX gold futures for August delivery fell 0.74% to ₹1,44,222 per 10 grams.
IPO Watch
Investor demand remained exceptionally strong for Kusumgar Ltd, whose initial public offering was subscribed 128.67 times on the final day of bidding.
Meanwhile, the IPO of Laser Power & Infra was subscribed 0.98 times as of Friday evening, with bidding set to close on July 13.