Indian Markets Rebound as Tech and Metal Shares Drive Friday Gains
Indian stock market indexes finished Friday in green territory following a morning dip. The BSE Sensex gained 413 points to close near 74,730, while the NSE Nifty 50 rose 0.65% to settle above 23,100 at 23,150. Buyers stepped in across information technology, media, and metal stocks, helping benchmarks bounce back after profit-taking erased early gains from Thursday's major rally.
Software and technology equities anchored the market's recovery. Tech Mahindra surged after delivering a 32.74% year-over-year rise in consolidated net earnings to Rs 1,585.6 crore for the second quarter ending September. Major industry peers Infosys and Tata Consultancy Services also moved higher. The market's resilience countered heavy offshore capital sales, with foreign institutional investors withdrawing Rs 5,285.37 crore on Thursday, as well as early softness in Reliance Industries.
Broader Asian markets offered support by trading higher across Japan, South Korea, China, and Hong Kong. However, elevated global energy prices remained a headwind, with Brent crude hovering around $105 per barrel and fanning concerns over domestic inflation and national import costs.
Key points
- The BSE Sensex added 413 points while the NSE Nifty 50 climbed 0.65% to finish above 23,100.
- Gains in technology, media, and metal shares helped Indian benchmarks recover from an early decline.
- Tech Mahindra posted a 32.74% year-over-year increase in quarterly net profit to Rs 1,585.6 crore.
- Foreign institutional investors withdrew Rs 5,285.37 crore from Indian equities in Thursday's session.
- Crude oil prices near $105 per barrel kept worries over trade deficits and inflation active.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why did Indian stock markets rise on Friday?
Buying in tech, media, and metal stocks helped Indian indexes recover after early profit-taking. Strong earnings from Tech Mahindra also lifted sentiment.
What were the closing levels for the Sensex and Nifty?
The BSE Sensex gained 413 points, while the NSE Nifty 50 advanced 0.65% to close above 23,100 at 23,150.
What risks are impacting Indian equities?
Ongoing equity sales by foreign institutional investors and Brent crude prices holding near $105 per barrel continue to pose risks for domestic inflation and import bills.