Sensex, Nifty rally over 1% as IT stocks drive broad-based market gains ANI In higher beta assets, the Nifty Midcap 150 gained 0.8% and Nifty Small-cap 250 rose 1.3%.
Synopsis Indian stock gauges rose over one percent on Wednesday.
Overseas fund flows are expected to shift into local technology companies.
The Nifty and Sensex closed higher, reflecting positive investor sentiment.
Declining crude oil prices and a stronger rupee also supported market gains.
Foreign and domestic institutions were net buyers of shares.
By ET Bureau Jul 30, 2026, 06:04:00 AM IST Follow us Mumbai: India's key stock gauges advanced more than 1% on Wednesday amid expectations that the recent sharp selloff in South Korea's SK Hynix and Samsung could trigger a rotation of overseas fund flows into locally listed technology companies.ADVERTISEMENT The Nifty rose 264 points, or 1.1%, to close at 24,250.
The Sensex rose 888 points, or 1.2%, to 77,654.Elsewhere in Asia, China advanced 0.4% and Hong Kong rose 2%, while South Korean Kospi slumped 6%,Taiwan dropped 3.8% and Japan fell 1.5%.
The pan-Europe index Stoxx 600 was down 0.3% as of press time.
"The massive correction seen in the Kospi, and artificial intelligence and chip-making stocks is now expected to trigger a shift in flows from AI-focused stocks toward the Indian IT sector, and this has fuelled investor optimism," said Rajesh Palviya, head of research, Axis Securities.
The Kospi is now down nearly 19% and Taiwan has fallen 11% in the past week.
SK Hynix has slipped 26.7% and Samsung Electronics Co is down 22.5%.The Nifty's IT index gained 2.3% on Wednesday, and is now up 9% in the past week, and 15% in the past one month.
