Indian equities climbed sharply in morning trade on Thursday, reversing previous losses as technology stocks led an earnings-driven rally that pushed both the Sensex and Nifty significantly higher despite weak global cues and falling Asian markets. Major IT constituents including Tech Mahindra, HCL Tech, and TCS provided the strongest lift, bolstered by improving investor confidence in sector earnings and upcoming quarterly results.

Indian equities climbed sharply in morning trade on Thursday, reversing previous losses as technology stocks led an earnings-driven rally that pushed both the Sensex and Nifty significantly higher despite weak global cues and falling Asian markets. Major IT constituents including Tech Mahindra, HCL Tech, and TCS provided the strongest lift, bolstered by improving investor confidence in sector earnings and upcoming quarterly results.

Indian equities climbed sharply in morning trade on Thursday, reversing previous losses as technology stocks led an earnings-driven rally that pushed both the Sensex and Nifty significantly higher despite weak global cues and falling Asian markets. Major IT constituents including Tech Mahindra, HCL Tech, and TCS provided the strongest lift, bolstered by improving investor confidence in sector earnings and upcoming quarterly results.

 

Indian equities climbed sharply on Thursday morning, reversing Wednesday’s losses as technology stocks led an earnings-driven rally despite falling Asian markets. Easing crude prices offered support, although hotter US inflation kept the prospect of further Federal Reserve tightening firmly in focus.

The Sensex gained as much as 1,016.70 points to hit a 73,798.59 morning high, while the Nifty touched 22,919.60, up 296.90 points.

Technology shares provided the strongest lift. Tech Mahindra gained 3.4 per cent, HCL Tech rose 3.1 per cent, and TCS advanced 2.8 per cent. Bharti Airtel climbed 2.7 per cent, and Infosys added 2.6 per cent. Bharat Electronics, Trent, Titan and Power Grid were the only declining Sensex constituents in the morning rally.

IT earnings boost investor sentiment

The rally reflects improving confidence in IT earnings following HCL Tech’s results. The Nifty IT index gained 2.4 per cent by the morning update, taking its three-session advance to about 8.3 per cent.

Tech Mahindra and Wipro are scheduled to report quarterly results later on Thursday.

Financials and Reliance Industries also supported the benchmarks. Bank Nifty index was up 0.8 per cent while Reliance stood strong, gaining 2.4 per cent.

However, broader participation remained uneven as small-caps fell 0.5 per cent, while mid-caps gained 0.3 per cent.

India vs rest of Asia

India’s rise contrasted with weakness elsewhere in Asia after US inflation accelerated to 3.7 per cent in September from 3.4 per cent in August.

The Nasdaq fell 1.88 per cent on Wednesday, with AI-linked shares particularly vulnerable to changing interest-rate expectations.

Brent crude eased 1.60 per cent to $104.40 a barrel in the morning. Foreign institutional investors sold ₹1,857.44 crore of Indian equities on Wednesday.

So far, Indian market watchers see that a move away from expensive global AI stocks could potentially benefit India. But for now, the recovery seems to stem from earnings optimism, and further quarterly results this week would test whether Thursday morning’s buying can translate beyond index heavyweights.

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