Sensex, Nifty Rise As IT Stocks Rally; Investors Track US-Iran Ceasefire

Domestic benchmark equity indices traded marginally higher in morning trade on Friday as investors closely monitored developments in West Asia and awaited further clarity regarding a possible extension of the US-Iran ceasefire.

The BSE Sensex climbed as much as 352 points, or 0.46 per cent, to touch an intraday high of 76,220 during early trading. The NSE Nifty advanced nearly 100 points, or 0.40 per cent, to trade around the 24,002 mark.

Market sentiment remained broadly positive, supported by gains in information technology shares. The Nifty IT index rose more than 2 per cent, emerging as the top-performing sector during the session.

Mid and small-cap IT companies, along with telecom, healthcare, pharmaceutical and PSU banking stocks, also witnessed buying interest.

Realty, media and metal indices traded in positive territory, reflecting improved investor confidence amid easing concerns over global crude oil prices and geopolitical tensions.

Some sectors continued to witness pressure. Chemical, consumer durables and financial services-related stocks traded lower, while FMCG counters remained largely flat throughout the session.

Among individual stocks, Bharti Airtel, ONGC, Eicher Motors, Bharat Electronics Limited (BEL) and HDFC Bank featured among the top laggards on the Nifty index despite the broader market optimism.

Market experts said falling crude oil prices and strong corporate earnings supported investor sentiment, while lower oil prices are expected to strengthen India’s economy and the rupee.

Brent crude fell 1.24 per cent, and WTI slipped nearly 2 per cent, while Asian and US markets also traded higher, boosting global sentiment.

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