Sensex rises over 1% led by gains in IT stocks

Equity market benchmark indices Sensex and the Nifty on Friday gained over 1% led by gains in IT stocks. The S&P BSE Sensex gained 847 points or 1.18% to close at 72,568.45 points. Top Sensex gainers included Infosys up 7.84%, Tech Mahindra up 4.73%, TCS up 3.89%, Wipro up 3.88%, HCL Tech up 3.85% and State Bank of India up 2.17%.

The NSE Nifty 50 index too surged 247.35 points or 1.14% to 21,894.55 points. Ajit Mishra, Senior Vice President, Technical Research, Religare Broking Ltd said, “Buoyancy in the IT heavyweights triggered a firm start, which further strengthened with buying in heavyweights across sectors. Apart from the IT pack, realty and PSU also posted decent gains while auto and pharma traded subdued.” “Amid all, the broader indices underperformed the benchmark but still managed to end with modest gains,” he said.

“We are now eyeing 22,150 in Nifty however selective participation from banking could keep the momentum in check. Needless to say, the volatility would remain high due to earnings and mixed global cues so plan the overnight trades accordingly,” he added. COMMents SHARE Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit.