Nifty 50 Rises 179 Points, Sensex Gains Over 550 Points; IT and Metal Stocks Lead Market Rally
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The Nifty 50 and Sensex traded higher in afternoon deals, supported by strong gains in IT stocks and positive Asian market cues. Metal stocks outperformed, while Bank and PSU Bank indices lagged.
✨ Key Takeaways
The Indian stock market traded higher in afternoon deals on Friday, supported by a strong rally in information technology (IT) stocks and positive cues from Asian markets. The upbeat sentiment across regional markets helped lift investor confidence, pushing the benchmark indices into positive territory.
As of 12:00 PM, the Nifty 50 was trading at 24,354.65, up 178.95 points, or 0.74 per cent. The Sensex also advanced 550.55 points, or 0.71 per cent, to 78,052.67.
The broader market also remained in positive territory, although gains were relatively modest compared to the benchmark indices. The Nifty MidCap index was up 0.21 per cent, while the Nifty SmallCap index gained 0.47 per cent, indicating continued buying interest beyond Large-Cap stocks.
Among sectoral indices, Nifty Metal and Nifty IT emerged as the top performers, driven by strong buying across metal and technology stocks. On the other hand, Nifty Bank and Nifty PSU Bank underperformed the broader market, limiting the overall upside.
Positive Asian market performance and strength in IT shares remained the key factors supporting the market's gains during the session.
Disclaimer: The article is for informational purposes only and not investment advice.