Sensex jumps 800 points, Nifty above 24,200. Top 5 triggers driving today’s stock market surge
The Indian stock market traded in deep green on Friday, with Sensex and Nifty rising more than 1% each as strong earnings by heavyweight TCS
The Indian stock market traded in deep green on Friday, with Sensex and Nifty rising more than 1% each as strong earnings by heavyweight TCS, positive global cues and other factors boosted investor sentiment. Sensex jumped nearly 800 points to 77,527 while Nifty 50 rose over 230 points to 24,197, extending sharp gains for the second consecutive session. This came as India VIX, which measures volatility in the market, crashed another 9% to 12.71 on Friday morning. The sharp gains added nearly Rs 5 lakh crore to the total market capitalisation of all companies listed on BSE, pulling it up to nearly Rs 481 lakh crore. Infosys, TCS, Tech Mahindra and HCL Tech shares were the top gainers on the Sensex, jumping 3-4%. IndiGo, Asian Paints, ICICI Bank, UltraTech Cement, Tata Steel, M&M and SBI shares followed, rising more than 1% each. Bucking the trend, Sun Pharma shares fell around 1%.Broader markets also extended sharp gains, with Nifty Smallcap 100 and Nifty Midcap 100 indices gaining up to 0.7% each. Sectorally, the Nifty IT index surged more than 3% to lead gains, while Nifty Metal followed, rising more than 1%. Nifty Pharma, however, declined around 1%, bucking the trend. The overall market breadth was positive, with NSE seeing 2,010 advances and 429 declines, while 97 stocks remained unchanged.Here are the key factors boosting market sentiment today: 1) TCS kicks off Q1 earnings season on a strong noteThe market gains were led by the IT stocks, which sharply surged after Tata Consultancy Services (TCS) on Thursday reported 5% year-on-year (YoY) growth in consolidated net profit at Rs 13,349 crore for the first quarter of the ongoing financial year 2027.
The company’s consolidated net profit stood at Rs 12,760 crore in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rose around 14% YoY to Rs 72,275 crore during the quarter under review, as against Rs 63,437 crore in the year-ago period. Its total contract value in Q1 FY27 stood at $9.5 billion.TCS earnings were more or less in line with estimates, with brokerages like Nuvama, Motilal Oswal Financial Services and others maintaining their ‘Buy’ rating and seeing up to 46% upside potential.2) Positive global cuesThe optimism on Dalal Street comes amid positive global cues. Asian markets recorded strong gains on Friday morning, with South Korea’s Kospi jumping around 5% to exit the bear market. Japan’s Nikkei and Hong Kong’s Hang Seng jumped around 2% each. China’s Shanghai Composite, meanwhile, gained nearly 1%.Wall Street also recorded sharp gains on Thursday, with the tech-heavy Nasdaq gaining more than 1% amid a sharp rebound in tech stocks. In Europe, France’s CAC and Germany’s DAX gained around 1% each, but the UK’s FTSE slipped into the red.3) Market shrugs off escalating Iran-US tensionsIranian armed forces launched attacks on US military infrastructure in Gulf states on Thursday following US strikes on Iran's southern coastal and eastern provinces. Separately, Iranian media reported multiple explosions across southern Iran, including Bushehr, where one of the country's nuclear plants is located. The latest escalations in the Iran-US conflict have raised worries over further closure of the Strait of Hormuz, a critical waterway that accounted for the shipment of 20% of daily global oil and gas supplies before the war.
The BriefWire