Sensex Surges Over 50 Points as Global Rally Continues; Nifty Breaks Key Levels Amid AI Uncertainty
The Indian stock market extended its ascent for a third consecutive session on Friday. Both key benchmark indices, the Sensex and the Nifty 50, traded higher amid sustained bullish sentiment from global markets. The positive momentum saw the NSE witness 1,473 advances against 844 declines, with 94 stocks remaining unchanged.Market Indices Climb Amid Broader Gains
At 9:22 am, the Sensex gained over 50 points, reaching a level of 77,950. Similarly, the Nifty 50 added more than 50 points, trading above the 24,350 mark. Broader equity markets also tracked the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 indices registering a rise of up to 0.3%.IT Sector Faces Heat as Global AI Rally Continues
Despite widespread market gains, the technology sector faced significant headwinds. Nifty IT slipped by up to 4%, leading among the major loss-making sectors. This downturn came after global optimism fueled by tech giants Amazon and Microsoft posting strong earnings reports in the US. The sectoral drop was pronounced, but nearly all other indices remained firmly in the green.Key Gainers and Industry Performance
Several companies contributed significantly to the overall market push on the Sensex. Stock performers included Bajaj Finance, M&M, Bajaj Finserv, Trent, and Asian Paints, with these gainers rising by up to 3%. Conversely, major IT stocks such as Infosys, Tech Mahindra, HCL Technologies, and TCS faced selling pressure across their shares.Analysts Pinpoint Resilience in Indian Markets
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted the intense volatility seen recently in markets like the US and South Korea. He noted that tech stocks are undergoing extreme price fluctuations in response to quarterly results and unprecedented speculative trading activity. Institutional investors are generally wary of such high volatility.The FII buying trend is being viewed as a potential source of market resilience in India. In the last three days, Foreign Institutional Investors (FIIs) cumulatively bought equity worth Rs 7,360 crore. According to the analyst, Q1 results released so far indicate a revival of earnings growth momentum across several companies.
Tech View on Nifty: Targets and Support Levels
Bajaj Broking maintained a positive bias outlook for the Nifty index, noting that it continues to form higher highs and higher lows on its daily chart. The brokerage firm expects the index to trend towards 24,390 and 24,500 in coming sessions.From a technical perspective, Wednesday’s gap area of 24,041-24,136 is likely to function as immediate support for the market. On the upside, the index has short-term resistance set at 24,500-24,600, which marks a confluence of the current month’s high and the April 2026 high. Downside support is revised upwards toward the 23,800-24,000 range, aligning with the bullish gap area from Monday.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.