Indian stock markets rebound as IT stocks and easing oil prices drive Sensex and Nifty higher

Indian stock market Sensex Nifty 50 IT sector rally Tata Consultancy Services

Indian benchmark indices, the BSE Sensex and NSE Nifty 50, staged a significant recovery on Friday, rebounding after two days of sharp declines. The Sensex rose by 879 points to settle at 72,472.33, while the Nifty 50 climbed to 22,520.45.

The rally was primarily driven by strong performance in the information technology sector and easing global crude oil prices. Tata Consultancy Services (TCS) played a key role in the market uplift following its report of a 15 per cent jump in net profit for the July-September quarter. Other notable gainers included Adani Ports, Infosys, and HCL Tech.

Market sentiment was further supported by a moderation in Brent crude prices and easing geopolitical tensions regarding potential US military action against Iran. Additionally, the Indian rupee strengthened by 23 paise against the US dollar, aided by a weaker dollar index and suspected intervention by the Reserve Bank of India.

Despite the rebound, analysts noted ongoing headwinds, including regulatory scrutiny from the US regarding green-card sponsorship processes for Indian IT firms and potential volatility from global energy prices.

Entities

Adani Group · BSE Sensex · India · JP Morgan · NSE Nifty 50 · Nifty IT · Reserve Bank of India · Sensex · Tata Consultancy Services

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] Tata Consultancy Services (TCS) reported a 15 percent increase in net profit to 13,884 crore rupees for the July-September quarter. www.ibc24.in
[○ 1 SOURCE] The NSE Nifty 50 closed at 22,520.45, an increase of 288.65 points or 1.30 percent. www.ibc24.in
[● 2 SOURCES] The IT sector index rose by more than 3 percent during early trading. samacharnama.com · www.bhaskarhindi.com
[● 2 SOURCES] Reliance Industries shares closed lower by 0.65 percent. www.bhaskarhindi.com · www.ibc24.in
[○ 1 SOURCE] Adani Ports rose by 3.10 percent to close at 1,761 rupees. www.bhaskarhindi.com
[○ 1 SOURCE] The BSE Sensex closed at 72,472.33, up 879.09 points or 1.23 percent. www.ibc24.in
[○ 1 SOURCE] Brent crude prices fell by 1.32 percent to 102.9 dollars per barrel. www.ibc24.in
[○ 1 SOURCE] The rally was supported by strong Q2 results and confidence in AI-driven revenue growth in the IT sector. www.ibc24.in