Indian Benchmark Indices Rise at Market Open Led by IT Sector
Indian equity benchmarks are sustaining upward momentum for the second consecutive session, bolstered by a strong recovery in global technology shares. The **Nifty 50** is trading at **25,482.50**, gaining **57.85 points** or **0.23%**, while the **Sensex** remains steady near the **82,276** mark.
A significant rally on Wall Street, where the **Nasdaq** jumped **1.26%**, has provided a tailwind for domestic IT heavyweights. **Nvidia** reported record quarterly revenue of **$68.1 billion**, up **73%** year-on-year, which has effectively calmed global fears regarding a slowdown in artificial intelligence spending.
In the domestic IT space, **HCL Technologies** led the gains with a **2.74%** rise to **1,375.90**. **Tata Consultancy Services (TCS)** advanced **2.15%** to reach **2,629.00**, and **Infosys** climbed **1.14%** to trade at **1,290.10**. This recovery comes after a period of intense volatility where the IT index had corrected nearly **30%** from its previous peaks.
Beyond technology, the **Auto** and **Metal** sectors are showing selective strength. **Bajaj Auto** emerged as a top performer, rising **2.74%** to **10,098.50**, while **Tata Steel** gained **2.43%** to reach **214.22**. Market participants are noting a shift toward value buying in these sectors as geopolitical tensions and trade tariff uncertainties stabilize.
Despite the positive index movement, heavyweights in the banking and energy sectors are facing pressure. **State Bank of India (SBI)** slipped **1.96%** to **1,199.30**, and **Reliance Industries** dropped **1.96%** to **1,400.80**, limiting the overall upside for the benchmarks.
Broad market sentiment remains cautiously optimistic as investors await key domestic macro data. India's **GDP growth** for the current fiscal year is projected at **7.4%**, with industrial activity and digital services driving the momentum. Foreign Portfolio Investors (FPIs) are closely monitoring these indicators following a period of asset reallocation earlier in the month.
The **India VIX**, a measure of market volatility, cooled by nearly **5%**, suggesting a temporary stabilization in investor nerves. While the **Nifty** faces immediate resistance near **25,650**, strong support is established at the **25,325** level.