IT Stocks Power Rally as Sensex Jumps in Early Trade
IT Stocks Power Rally as Sensex Jumps in Early Trade
IT-led gains lift Sensex and Nifty in early trade, led by Tech Mahindra, TCS, HCLTech, Infosys and Wipro as currency trends stabilise and global demand improves.
Indian equities opened on a firm footing today, with technology shares sparking a broad rally across benchmarks. The 30-share Sensex rose 445.75 points, or 0.54 per cent, to 82,671.67 at 9:17 am after starting at 82,530.12. The broader Nifty 50 climbed 129.70 points, or 0.51 per cent, to 25,554.35. In early deals, the index traded within a narrow band of 25,507.90 to 25,581.70, with market breadth tilted decisively in favour of gainers.
Gains were led by frontline IT names, with Tech Mahindra up over 3 per cent, while TCS and HCLTech advanced more than 2.5 per cent each. Infosys and Wipro also rose by over 2 per cent in the opening trades, reflecting optimism around global tech demand and stabilising currency trends. Beyond the tech pack, the gains broadened as Power Grid, NTPC, Adani Ports, ITC, ICICI Bank and IndiGo joined the rally, signaling a broad-based recovery across utilities, banking and consumption plays. Heavyweight Reliance Industries inched higher by just over half a per cent, lending further support to the benchmark.
On the negative side, a few pockets saw mild profit-taking; autos and select financial counters were subdued, tempering some of the enthusiasm. Despite the pullbacks in some names, the overall sentiment remained constructive, suggesting participants are positioning for a positive backdrop as the week unfolds. Analysts note the immediate action is being driven by IT, with other sectors contributing as risk appetite improves and liquidity remains supportive.
Investors will be watching how the domestic market navigates currency trends, global tech demand, and any policy signals that could influence risk appetite in the near term.
