IT Stocks Lift Markets; Sensex Gains 130+ Points
What Happened
Indian equities opened in the green today. As of around 9:50 AM IST, the Sensex was up 134 points (0.17%) at 74,916, while the Nifty 50 gained 21 points (0.09%) to 23,419. Technology stocks were the biggest drivers, with the Nifty IT index surging over 4%, supported by strong gains in Infosys, TCS, HCLTech and Tech Mahindra. Bank stocks were mixed, keeping Nifty Bank slightly lower by about 0.3%.
Key Takeaways
Tech is doing the heavy lifting today. Strong buying in IT stocks is offsetting weakness in banks and broader markets. Investors are also keeping an eye on rising oil prices, US interest-rate expectations, and corporate developments such as HDFC Bank's CEO succession process.