Indian equities closed higher for a second consecutive session on Friday, bolstered by strong IT earnings and positive performances from majors like Tech Mahindra, TCS, Infosys, and HCLTech, which helped offset ongoing foreign selling pressures and sustain the broader market rebound.

Indian equities closed higher for a second consecutive session on Friday, bolstered by strong IT earnings and positive performances from majors like Tech Mahindra, TCS, Infosys, and HCLTech, which helped offset ongoing foreign selling pressures and sustain the broader market rebound.

Indian equities closed higher for a second consecutive session on Friday, bolstered by strong IT earnings and positive performances from majors like Tech Mahindra, TCS, Infosys, and HCLTech, which helped offset ongoing foreign selling pressures and sustain the broader market rebound.

Indian equities closed higher for a second consecutive session on Friday, with strong IT earnings helping sustain Thursday’s rebound despite continued foreign selling.

Softer crude prices and a strengthening rupee supported sentiment, but the recovery remained tied to technology shares rather than evidence of a reversal in foreign flows.

The Sensex gained 413.66 points to finish at 74,729.27. It had risen as much as 463.17 points to 74,778.78 during the session. The Nifty added 148.80 points to close at 23,146.15.

Together with Thursday’s rally, the two sessions lifted the Sensex by 1,947.38 points and the Nifty by 523.45 points against Wednesday’s close. Earnings optimism seemed to have changed market direction, even when the broader economic backdrop remains unsettled.

Tech Mahindra led Friday’s advance, jumping 8.45 per cent after reporting a 32.74 per cent increase in consolidated net profit to ₹1,585.6 crore for the September quarter. The stock’s performance was lifted by a combo of improvement in operating profit and volumes, along with cost savings and rupee depreciation during the reporting quarter.

TCS, Infosys and HCLTech were also among the major Sensex gainers, alongside Bharti Airtel, Mahindra & Mahindra and Bajaj Finance. IndiGo, Reliance Industries, Asian Paints and Bharat Electronics slumped.

Brent crude slipped 0.30 per cent to $105.60 a barrel, providing some relief without removing the pressure associated with expensive oil.

US stocks had advanced on Thursday, improving the external factors. Moreover, SEBI announced changes to closing auctions and derivatives settlement on Thursday, effective from December 7.

 

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