Mumbai: Indian equity markets staged a strong recovery on Friday morning, with the Sensex climbing around 800 points and the Nifty moving above 22,450. Buying in information technology stocks and some easing in crude oil prices supported the rebound after Thursday’s sharp sell-off.
IT Stocks Lead the Recovery
Technology shares emerged as a key driver of the market’s gains. In an earlier snapshot at 9:22 am IST, the Nifty IT index advanced 2.9%, while Tata Consultancy Services rose 3.5% following its September-quarter results.
TCS reported stronger AI-related revenue and growth in its international business, helping improve sentiment towards the sector. At that time, the Sensex stood at 71,906.22, up 0.46%, while the Nifty traded at 22,339.50, gaining 0.49%. Both benchmarks subsequently extended their gains.
Recovery Follows Thursday’s Market Rout
The rebound came after the Sensex plunged 1,045.46 points, or 1.44%, to close at 71,593.24 on Thursday. The Nifty dropped 371.25 points, or 1.64%, to settle at 22,231.80.
The previous session’s decline reflected concerns over rising crude oil prices, elevated global bond yields and continued foreign investor selling.
Oil Prices and Foreign Flows Remain in Focus
Despite Friday’s recovery, investors continued to monitor developments in West Asia and their implications for energy supplies. Elevated oil prices remain a concern for India because they can increase import costs and inflation pressures.
Foreign institutional investors sold approximately ₹12,944 crore of Indian equities on Thursday, while domestic institutional investors bought around ₹10,703 crore, providing a partial cushion against the outflows.
The immediate market focus remains on corporate earnings, crude oil movements and whether buying spreads beyond technology shares. Friday’s advance marks a recovery from the previous session’s losses, with sustained participation likely to determine the strength of the rebound.
