Indian stock markets maintained their impressive upward trajectory for a seventh consecutive session today, closing firmly in positive territory.
A powerful surge in technology stocks, coupled with optimism stemming from potential easing in US-China trade tensions, propelled the benchmark indices to significant levels, with the Sensex reclaiming the 80,000 mark.
The positive momentum was evident throughout the trading day. At the closing bell, the 30-share BSE Sensex settled at 80,116.49, marking a solid gain of 520.90 points or 0.65%.
Following suit, the broader NSE Nifty 50 index concluded the session at 24,328.95, adding 161.70 points or 0.67%. This marked the seventh straight day of gains for both major indices.
Tech Sector Shines Brightest
The undisputed star of the session was the Information Technology (IT) sector. The Nifty IT index soared an impressive 4.34% to close at 35,414.65, significantly outperforming other sectoral gauges.
Leading this charge was HCL Technologies, which emerged as the top gainer on the Nifty 50, with its shares surging 7.7%.
This remarkable jump followed the company’s announcement of a stronger-than-expected revenue forecast for the fiscal year 2026, surpassing both analyst estimates and the guidance provided by its industry peers.
Key tech players like Tech Mahindra, Infosys, and TCS also posted substantial gains.
Investor sentiment towards the export-driven IT sector received a significant boost following comments from US President Donald Trump on Tuesday.
He indicated that tariffs currently imposed on Chinese imports would see a significant reduction once a trade agreement is reached, though he cautioned they would not be eliminated entirely (“not be 0%”).
This signal of potential de-escalation in the long-running trade conflict, which has previously cast a pall over global growth prospects and pressured sectors like Indian IT, was welcomed by the market.
Consequently, major constituents of the Nifty IT index, including TCS, Infosys, Wipro, Tech Mahindra, and Coforge, recorded strong gains ranging from 2.7% to 6.4%.
Banking index hits new peak
The banking sector also contributed positively to the market mood.
The Nifty Bank index achieved a notable milestone during the session, crossing the significant 56,000 mark for the first time ever.
The index touched an all-time intraday high of 56,097.10 in early morning trading, indicating underlying strength in financial stocks.
Overall, the combination of positive global cues related to trade negotiations and robust performance in key domestic sectors, particularly IT, provided ample support for the market’s continued climb, extending the winning streak to a remarkable seven sessions.
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