Closing Bell: Sensex jumps 965 points, Nifty closes above 24,300;

KOTAKBANK

rallies 4%,

TCS

gains 3%

Synopsis: Indian benchmark indices ended Friday's trade with strong gains, defying weak global market trends. The Sensex soared nearly 1,000 points, while the Nifty settled above the 24,300 mark, driven by upbeat Q1 earnings, robust buying in IT and banking stocks, and favourable domestic cues. Stock Market Highlights The domestic equity market witnessed a strong rally on Friday, outperforming most global peers despite cautious sentiment overseas. Investor confidence was lifted by healthy quarterly earnings, broad-based buying in information technology shares, strength in private lenders, and positive technical indicators. Among sectoral indices, Nifty IT and Nifty Private Bank led the advance with gains of over 1% each. On the other hand, Nifty Pharma ended as the top sectoral loser, declining more than 1%. However, the broader market remained subdued, as the NSE recorded 1,094 advancing stocks, 1,844 declining stocks, and 110 stocks closing unchanged, indicating that gains were concentrated in heavyweight counters. What Drove the Market Higher Today? 1. Strong rally in IT stocks Technology stocks attracted significant buying after several companies posted encouraging first-quarter earnings, lifting benchmark indices. 2. Positive Q1 earnings sentiment The ongoing earnings season continued to support market sentiment as investors cheered better-than-expected financial performance from key corporates. 3. Firm rupee against the US dollar A stronger rupee improved overall market sentiment by easing inflation concerns and supporting sectors sensitive to currency movements. 4. Positive technical setup The Nifty decisively moved above important resistance levels, triggering fresh buying and reinforcing bullish momentum across the market. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.