Indian equities extended their recovery, led by sustained buying in IT stocks, as strong quarterly results and upbeat management commentary reinforced confidence in the sector’s earnings outlook.
The Nifty 50 gained 149 points, or 0.65%, to settle at 23,146, while the BSE Sensex advanced 413 points, or 0.56%, to close at 74,729.
Broader markets, however, ended marginally lower, with the Nifty Smallcap 100 slipping 0.01% and the Nifty Midcap 100 declining 0.11%.
Among sectoral indices, the Nifty IT outperformed the broader market, ending nearly 4% higher.
Overall market breadth remained positive on the NSE, with 2,131 stocks advancing against 1,422 declining, while 116 stocks remained unchanged out of a total of 3,669 stocks traded.
Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
Following Thursday’s consolidation breakout, Nifty witnessed follow-up buying interest from the 22,900 levels, indicating improving near-term sentiment. The daily RSI has entered a bullish crossover, while positive divergence signals strengthening momentum. If the index sustains above 23,000, the ongoing mean reversion rally could extend towards its 50-DMA in the 23,500–23,600 zone, according to Vatsal Bhuva, Technical Analyst at LKP Securities.
"However, the broader trend requires confirmation. The immediate support is placed at 22,800, while resistance is seen at 23,200. Sustaining above 23,000 remains crucial for further upside momentum," said Bhuva.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
