Sensex Surges 700 Points as IT Stocks Rebound, Market Gains ₹3 Lakh Crore

New Delhi: After five consecutive days of declines, IT stocks bounced back today, lifting domestic markets sharply. Early trading saw the BSE Sensex rise over 700 points, while the Nifty 50 gained more than 200 points, adding roughly ₹3 lakh crore to the market capitalization of BSE-listed companies.

The previous session had seen heavy losses, with the Sensex falling 1,069 points and the Nifty dropping 288 points. Today, the rally was primarily driven by IT sector gains after a multi-day selloff.

Market Performance

By 11:30 AM, the Sensex was trading at 82,761.06, up 535.14 points (0.65%), while the Nifty reached 25,616, up 191.35 points (0.75%). Among Sensex constituents, HCL Tech, Tata Steel, and Infosys led the gains, whereas Eternal, SBI, Kotak Mahindra Bank, ITC, and Asian Paints saw declines. All sectoral indices were trading in the green.

The Nifty IT and Nifty Metal indices surged over 2%, while Nifty Auto and Nifty Realty gained more than 1%.

Global Cues

U.S. markets closed higher in the previous session, providing additional support. The Nasdaq Composite rose 236 points, the Dow Jones Industrial Average gained 370 points, and the S&P 500 increased 52.32 points.

Crude oil prices also rose to a seven-month high, with Brent futures trading at $71.23 per barrel, up 46 cents, amid concerns over supply disruptions due to escalating tensions between the U.S. and Iran.

The domestic rebound, coupled with positive global cues, boosted investor sentiment, ending a turbulent week on a firmer note.