Business
IT stocks lead Sensex and Nifty to second day of gains, support zone key for Nifty
Reported by Kunal Bhatia (Senior Writer) · Economic Times - Markets ·
Reported by one source so far
Sensex and Nifty extended their gains for a second straight session on Friday, with IT stocks driving the rally. IT shares rose for a fourth consecutive session, pushing the broader market higher. Buying also lifted auto, metal and PSU banking stocks, adding breadth to the advance. The upward move kept the Nifty above the key support zone between 22,750 and 22,800 points. Analysts note that staying over this range is essential for the recovery to continue. The support zone has acted as a floor in recent trading, giving traders confidence to add to positions. As long as Nifty holds above 22,750–22,800, the momentum is likely to stay intact. The rally reflects renewed optimism in technology firms and steadier demand in auto and metal sectors. PSU banks also saw fresh inflows, suggesting broader investor participation. Market participants will watch the support level closely for signs of strength or weakness.## Context The Sensex and Nifty are India's main stock‑market benchmarks, tracking large‑cap companies. Support zones are price levels where buying interest often prevents further drops. Holding above such zones signals stability and can keep buying momentum alive.
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