IT Stocks Power Sensex to 1,100-Point Surge

The market closed sharply higher today, led by a broad IT rally after HCL Tech’s strong Q2 results. The Sensex gained about 1,109 points (1.54%) to roughly 73,034, and the Nifty gained about 359 points (1.60%) to roughly 22,722. Easing oil and the RBI’s rupee support measures helped sentiment. Top gainer: HCL Technologies. It rose 7.94% to ₹1,320.10 on heavy volume of over 2.14 crore shares. Q2 profit after tax rose 21.2% year on year. Others close behind: TCS gained 6.45% and Shriram Finance 6.11%.

and Infosys each gained more than 4%. Top loser: At midday Maruti Suzuki was the biggest loser, down 1.27% to ₹11,171, ahead of Max Healthcare (-0.88%), IndiGo (-0.86%), NTPC (-0.84%) and Tata Motors PV (-0.72%). IT led the rally. Nifty IT was up over 3% by mid-morning, and the gains grew through the day. This is the second sharp IT rebound in a week after Friday’s, which followed TCS’s results.