Tech Stocks Rally And Lift Stock Market: Sensex Soars Over 650 Points, Nifty Above 24,100

Global equity markets received a boost after semiconductor and artificial intelligence-related stocks rallied, encouraging investors to increase exposure to risk assets.

Market participants will continue to monitor whether the momentum in global technology stocks sustains through the session.

Source : ABPLIVE AI

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Key points generated by AI, verified by newsroom

• Indian equities opened strong, Nifty surpassed 24,100.
• Global tech rally and Wall Street gains fueled optimism.
• Broad-based buying lifted all sectors, led by IT.

Indian equity benchmarks opened Friday with a bang, tracking gains across global markets as a rally in technology and semiconductor stocks lifted investor sentiment.

The BSE Sensex started trading near 77,400, soaring more than 650 points, while the NSE Nifty50 jumped nearly 177 points and crossed 24,100, as of 9:15 AM.

The upbeat start comes after strong overnight gains on Wall Street and a positive trend across major Asian markets.

Global Tech Rally Lifts Market Mood

Global equity markets received a boost after semiconductor and artificial intelligence-related stocks rallied, encouraging investors to increase exposure to risk assets.

The technology-led optimism spilled over into Asian trading, setting the stage for a positive opening in Indian equities.

Market participants will continue to monitor whether the momentum in global technology stocks sustains through the session.

Broad-Based Buying Lifts Sectoral Indices

Buying interest remained widespread in early trade, with all major sectoral indices trading in positive territory. The Nifty IT index led the gains, rising 2.08 per cent, followed by the Nifty MidSmall IT & Telecom index, which advanced 1.44 per cent.

Among Sensex and Nifty constituents, Tech Mahindra, Tata Consultancy Services (TCS), Infosys, HCLTech, InterGlobe Aviation (IndiGo), ICICI Bank, Asian Paints, Reliance Industries, Bharat Electronics (BEL), Mahindra & Mahindra, Maruti Suzuki, HDFC Bank, Eternal and Kotak Mahindra Bank were among the top gainers in morning trade. On the other hand, Bharti Airtel and Sun Pharma traded in the red.

Asian Markets Trade Higher

Most markets across the Asia-Pacific region opened in positive territory on Friday.

Japan's Nikkei 225 climbed more than 2.2 per cent, while South Korea's Kospi jumped over 4 per cent, extending gains after the strong performance seen in US markets.

The broad-based rally reflected improved global risk appetite, particularly for technology-driven markets.

Wall Street Ends Higher

US equities finished Thursday's session on a positive note, with technology stocks leading the gains.

The Nasdaq Composite rose 1.3 per cent, outperforming its peers, while the S&P 500 gained 0.81 per cent. The Dow Jones Industrial Average also ended higher, adding 0.27 per cent.

The overnight rally has provided supportive cues for Asian markets, including India.

Crude Oil Remains Stable Amid Diplomatic Hopes

Crude oil prices were little changed in early trade as investors assessed reports of possible diplomatic engagement between the United States and Iran following recent military exchanges.

Brent crude futures traded around $76.30 per barrel, remaining largely unchanged from the previous session.

The stability in oil prices offers some relief to import-dependent economies such as India, where sustained moderation in crude prices can help contain inflation and reduce pressure on the current account.

Gold Edges Higher As Dollar Weakens

In the commodities market, gold prices inched up after the US dollar softened. However, the precious metal remained on track for a weekly decline as investors weighed the possibility that escalating US-Iran tensions could fuel inflation and encourage the US Federal Reserve to maintain a tighter monetary policy stance.

Spot gold rose 0.2 per cent to $4,128.92 an ounce, although it was still poised to record a weekly loss of more than 1 per cent. Meanwhile, US gold futures for August delivery were largely unchanged at $4,139.50 per ounce.

According to Ajay Bagga, banking and market expert, the positive momentum from Wall Street carried into Asian markets on Friday, helping regional equities extend gains.

He noted that Japan's Nikkei led the regional rally, while technology-focused markets in Taiwan and South Korea also strengthened as investors returned to semiconductor stocks following recent valuation-led corrections.

Bagga added that Indian markets would aim to reclaim the 24,000 level, supported by healthy institutional liquidity and improving sentiment after the weakness seen earlier in the week.