<a href="https://www.mid-day.com//business/business-news/article/sensex-soars-514-points-nifty-jumps-over-180-points-in-early-trade-amid-buying-in-it-stocks-23654141" target="_blank" rel="none noopener">The domestic equity benchmark indices</a> rebounded to snap their two-day losing streak on Friday led by buying in IT stocks and moderating crude oil prices.
The 30-share BSE Sensex surged 879.09 points, or 1.23 per cent, to settle at 72,472.33. The 50-share NSE Nifty soared 288.65 points, or 1.30 per cent, to end at 22,520.45.
<h2>IT stocks rally</h2>
"Benchmark indices staged a strong recovery, witnessing a sharp intraday surge supported by buying in IT stocks following TCS's quarterly earnings announcement. Positive momentum extended to the broader market, with broad-based buying supporting the rebound after the recent selling pressure," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.
From the 30 Sensex firms, only one ended lower, as Reliance Industries was the only laggard. ITC, Tata Consultancy Services, Adani Ports, Infosys, HCL Tech were the major gainers. Shares of ITC jumped 4.78 per cent. <a href="https://www.mid-day.com/business/business-news/article/tcs-stock-jumps-over-5-per-cent-market-valuation-rises-to-788-lakh-crore-post-q2-fy27-result-23654164" target="_blank" rel="none noopener">TCS shares gained</a> 4.23 per cent after the company posted a 15 per cent growth in its Q2FY27 net profit.
"Domestic equities staged a relief rally, supported by value buying and short covering after the recent sharp correction. IT stocks outperformed on the back of a strong start to the Q2 earnings season and rising confidence in AI-driven revenue opportunities," Vinod Nair, Head of Research, Geojit Investments said.
On Thursday, the Sensex plunged 1,045.46 points, or 1.44 per cent, to settle at 71,593.24, while the Nifty tanked 371.25 points, or 1.64 per cent, to end at 22,231.80.
<h2>Global cues</h2>
Brent crude, the global oil benchmark, declined 1.32 per cent to USD 102.9 per barrel, according to news agency PTI.
"Sentiment was aided by easing geopolitical concerns following indications that any potential U.S. military action against Iran is unlikely before the midterm elections, helping crude prices moderate. However, persistent FII outflows and elevated global bond yields continue to temper the recovery outlook," Nair said.
<a href="https://www.mid-day.com/business/business-news/article/market-round-up-fiis-offload-equities-worth-rs-34970-crore-diis-buy-rs-33460-crore-of-equities-23653183" target="_blank" rel="none noopener">Foreign Institutional Investors (FIIs)</a> remained net sellers and offloaded equities worth Rs 12,943.58 crore on Thursday. Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth Rs 10,703.11 crore as per the exchange data.
In Asian markets, Shanghai's SSE Composite index and Hang Seng index ended higher, while &nbsp;Japan's Nikkei 225 index ended lower.
(With inputs from PTI)

The Sensex gained 879.09 points, or 1.23 per cent, to settle at 72,472.33, while the Nifty advanced 288.65 points, or 1.30 per cent, to end at 22,520.45

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The 30-share BSE Sensex surged 879.09 points, or 1.23 per cent, to settle at 72,472.33. The 50-share NSE Nifty soared 288.65 points, or 1.30 per cent, to end at 22,520.45

Sensex surges 879 points, Nifty jumps 288 points amid IT stock buying

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Home / Business / Business News / Article / Sensex surges 879 points, Nifty jumps 288 points amid IT stock buying