A wave of aggressive buying in IT and banking stocks helped Indian equities shrug off global uncertainty
Dalal Street ended the week on a high, with benchmark indices posting a powerful rally as investors returned to heavyweight IT and banking stocks. The BSE Sensex surged 964 points to close at 78,151.45, while the Nifty 50 climbed above the 24,300 mark to settle at 24,334.30, reflecting renewed optimism across the broader market.
The rally was driven by strong buying in technology companies following encouraging quarterly earnings and improving global cues. Banking and financial stocks also attracted investors ahead of key earnings announcements, adding further momentum to the market’s upward move.
Investor sentiment remained upbeat despite lingering geopolitical concerns in West Asia. Analysts said easing inflation expectations in the US, optimism around future interest-rate cuts and a stable rupee encouraged fresh buying, particularly in large-cap stocks.
The gains were broad-based, with several sectoral indices ending in the green. IT emerged as the standout performer after strong corporate results boosted confidence in the sector, while financial stocks extended gains on expectations of healthy quarterly earnings from major lenders.
Reliance Industries also supported the benchmark indices ahead of its earnings announcement, while investors continued to monitor global crude prices and developments in the Middle East for potential market impact.
The sharp rebound has reinforced confidence in domestic equities, but market experts caution that the sustainability of the rally will depend on the ongoing earnings season, foreign investment flows and global geopolitical developments. For now, however, the bulls have firmly regained the upper hand.
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