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IT Stocks Surge: Sensex and Nifty Rally on Thursday
30 Jul
Summary
- Benchmark indices Sensex and Nifty traded higher early Thursday.
- Major IT firms like Infosys and TCS were among the top gainers.
- Foreign fund inflows and lower crude oil prices supported the rally.
On Thursday, India's benchmark indices, the Sensex and Nifty, opened in positive territory. The early trading session saw a notable rally in IT stocks, which significantly contributed to the upward movement of the indices.
Major IT companies, including Infosys, Tech Mahindra, HCL Tech, and Tata Consultancy Services, were identified as key gainers. This surge in the technology sector was bolstered by substantial foreign fund inflows, with FIIs purchasing equities worth Rs 2,981.87 crore on the previous day.
Furthermore, a decrease in crude oil prices, with Brent crude trading 1.26 per cent lower at USD 89.60 per barrel, also positively impacted market sentiment. This combination of factors led the 30-share BSE Sensex to advance 75.71 points to 77,726.62 and the 50-share NSE Nifty to rise by 26.90 points to 24,275.85 in early trade.
