Mumbai’s bustling stock exchanges kicked off the week’s final trading session on a positive note Friday morning, with the Sensex and Nifty indices opening higher amid renewed optimism in the IT sector. Investors welcomed a rally in technology stocks, shrugging off global uncertainties to push benchmark indices into green territory right from the opening bell.
The BSE Sensex climbed 250 points to hover around 81,450 in early trade, while the NSE Nifty surged past 24,850, gaining nearly 80 points. Leading the charge were heavyweight IT giants like TCS, Infosys, and Wipro, whose shares jumped 2-3% as bargain hunting resumed following recent corrections. This tech-led rebound provided much-needed momentum after a volatile week marked by mixed earnings and geopolitical tensions.
Broader market participation remained robust, with midcap and smallcap indices also posting modest gains of 0.5-1%. Sectors like banking and consumer goods showed resilience, though auto stocks lagged slightly due to softening demand signals. Turnover picked up as foreign institutional investors turned marginal buyers after days of net selling.
Analysts attribute today’s upbeat start to positive cues from the US tech earnings season and expectations of steady interest rates from global central banks. ‘IT stocks are rebounding on improved deal wins and margin recovery prospects,’ noted a leading brokerage report. However, caution prevails with upcoming inflation data and policy decisions on the horizon.
As trading progresses, all eyes are on whether this green opening sustains through the session. With Diwali just weeks away, festive buying sentiment could further fuel the rally, but experts urge vigilance amid high valuations. The market’s ability to hold above key support levels will be crucial for bulls aiming to cap the week on a high.