Sensex and Nifty climb for a second day led by IT and retail stocks

Indian benchmark equity indices Sensex and Nifty rose for a second straight session on Friday, supported by strong buying in IT stocks and earnings-led gains in the Tata Group retail arm, Trent. The Sensex went up by 308.49 points, or 0.42 percent, to finish at 74,459.53, while the Nifty 50 added 116.35 points, or 0.51 percent, to close at 23,053.10.

Market Details

Foreign portfolio investors put more than 14,000 crore rupees into equities during the week through market investments. Domestic institutional investors added another 7,062 crore rupees. The market also reacted to the country's largest initial public offering, Jio Platforms, which listed at 21.4 percent above its issue price, alongside the US Federal Reserve keeping interest rates steady while staying cautious on inflation. Despite the headline gains, the wider market showed weakness as 1,013 stocks advanced, 2,511 declined, and 109 stayed unchanged.

Sector Performance

Sectoral results were mixed with Nifty IT pacing the gains with a 2.32 percent rise, followed by Healthcare at 1.58 percent, Pharma at 1.55 percent, and Media at 1.46 percent. On the losing side, Consumer Durables dropped 1.78 percent, Financial Services Ex-Bank fell 1.04 percent, PSU Bank lost 0.93 percent, and Auto dipped 0.87 percent. MarketSmith India highlighted Coforge Limited and Sai Life Sciences Limited as buy recommendations, with current prices at 2,045 rupees and 1,557 rupees respectively.

Context

Stock market indexes frequently experience short-term relief rallies driven by a combination of sector-specific earnings and steady central bank policies, even while broader economic indicators and moving averages suggest underlying caution. Such movements highlight the difference between top-tier benchmark indices and the wider market, where many individual stocks continue to face downward pressure.