The Indian stock market recorded strong gains on Friday, with the Sensex and Nifty rising more than 1% each as in-line earnings from IT heavyweight TCS, positive global cues and other factors boosted investor sentiment.
The Sensex jumped 828 points to close at 77,569, while the Nifty 50 advanced over 244 points to end the session at 24,206, extending gains for the second consecutive session. Meanwhile, India VIX, which measures market volatility, fell another 8% to 12.33.
The rally added nearly Rs 6 lakh crore to the combined market capitalisation of all BSE-listed companies, taking it to nearly Rs 482 lakh crore.
Reliance Industries (RIL), Bharat Electronics (BEL) andTech Mahindra shares jumped more than 2% each to lead gains on Sensex, while Axis Bank, Tata Steel, Infosys, Bajaj Finance, UltraTech Cement, Adani Ports, L&T, ICICI Bank and HCL Tech shares gained nearly 2% each. Bucking the trend, Eternal shares fell around 1%.
Broader markets also advanced, with Smallcap 100 and Nifty Midcap 100 indices gaining up to 1.5%. Among sectors, Nifty PSU Bank and Nifty Realty jumped more than 3% each to lead gains. Nifty IT surged nearly 2%, while Nifty Bank, Nifty Financial Services, Nifty Metal, Nifty Private Bank and Nifty Oil & Gas gained more than 1% each. Nifty FMCG however slipped into the red. Market breadth remained strong, with 2,339 advances, 976 declines and 95 unchanged stocks on the NSE.
Here are the key factors boosting market sentiment today:
1) TCS kicks off Q1 earnings season on a strong note
The rally was led by IT stocks after Tata Consultancy Services (TCS) reported a 5% year-on-year rise in Q1FY27 consolidated net profit to Rs 13,349 crore. Revenue from operations grew 14% YoY to Rs 72,275 crore, while total contract value (TCV) stood at $9.5 billion, boosting sentiment across the IT sector.
TCS earnings were more or less in line with estimates, with brokerages like Nuvama, Motilal Oswal Financial Services and others maintaining their ‘Buy’ rating and seeing up to 46% upside potential.
