Markets Rebound: Sensex, Nifty Extend Gains Led By IT Stocks

Indian equity markets bounced back from initial declines to finish Thursday’s trading session with gains, extending their upward trend for the second day in a row. The rise was largely fuelled by strong buying in IT stocks and support from a stronger rupee, which lifted overall market sentiment.

The Nifty climbed 33.70 points, or 0.15 per cent, to close at 22,713.10. Similarly, the Sensex advanced by 185.23 points, or 0.25 per cent, ending the day at 73,319.55.

According to market experts, the 22,200–22,180 range has now become a crucial support zone for the Nifty. Maintaining levels above this band may help sustain a short-term recovery.

On the higher side, analysts pointed to the 22,700–22,800 range as a significant resistance area. Markets have previously faced selling pressure at this level.

The IT sector emerged as the biggest contributor to the day’s rally, with stocks such as HCLTech and Tech Mahindra leading the gains on the Nifty.

Infosys and Tata Consultancy Services also supported the upward move, indicating renewed investor interest in technology shares. Other notable gainers on the Sensex included HDFC Bank, Bajaj Finance, Maruti Suzuki, and Titan Company.

While benchmark indices posted gains, the broader market underperformed. The Nifty MidCap index slipped by 0.30 per cent, and the Nifty SmallCap index declined by 0.50 per cent, although both recovered partially from intraday lows.

Sector-wise, IT and real estate stocks showed strength, reflecting selective buying by investors. On the other hand, construction, consumer durables, and pharmaceutical stocks witnessed selling pressure and ended the session in negative territory.

The appreciation of the Indian rupee against the US dollar also contributed to improved market sentiment.

Stock exchanges will remain shut on Friday due to the observance of Good Friday, temporarily halting trading activity after two consecutive sessions of gains.

Market participants believe that the recent rebound indicates an attempt by indices to stabilise in the near term.

The recovery appears to be driven by cautious, short-term buying rather than strong confidence in a sustained upward trend.

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