Indian equity benchmarks began Friday’s trading session with robust gains, mirroring upbeat global markets and strong investor interest in technology stocks.
Optimism surrounding global semiconductor shares fuelled buying across domestic equities, with the IT sector emerging as the biggest contributor to the rally.
The BSE Sensex surged 701.73 points, or 0.91 per cent, to 77,443.55 during early trade. The NSE Nifty also traded firmly higher, gaining 200.85 points, or 0.84 per cent, to reach 24,162.25.
According to market analysts, the 24,100–24,200 zone represents the next key hurdle for the Nifty. A convincing move above this range could strengthen bullish sentiment and open the path towards the 24,400 level.
Experts believe the index has immediate support at 23,900, with 23,800 acting as the next crucial level. They cautioned that a breach below 23,800 may increase selling pressure and pull the benchmark closer to 23,600.
Technology companies dominated the gainers’ list, with Tech Mahindra, HCLTech and Tata Consultancy Services (TCS) posting notable advances and driving the broader market higher.
The upbeat sentiment also extended to the wider market. The Nifty MidCap index rose approximately 0.7 per cent, while the Nifty SmallCap index added around 0.6 per cent in early dealings.
Sector-wise, the Nifty IT index jumped nearly 3 per cent, making it the strongest performer of the session.
Unlike the broader market, defensive sectors witnessed selling pressure. The Nifty Pharma and Nifty Healthcare indices remained among the weakest performers during the opening session.
Market participants attributed the rally to encouraging global developments, particularly strength in semiconductor stocks, which lifted investor confidence worldwide.
Analysts also noted that despite continuing geopolitical uncertainty in West Asia, investors remained focused on favourable global market trends, supporting sustained buying in Indian equities.
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