Sensex Gains Over 400 Points and Nifty Surpasses 23,500 as IT Stocks Lead Rebound

Indian equity benchmark indices staged a sharp recovery on Tuesday morning, breaking a five-session losing streak as strong buying interest in information technology majors lifted domestic sentiment. The BSE Sensex jumped over 400 points in early trade, while the NSE Nifty 50 crossed above the 23,500 mark.

Both benchmark indices started the day with significant gap-up openings. The Nifty 50 opened at 23,576.15, notably higher than its prior close of 23,398.10. Concurrently, the 30-share BSE Sensex started trading at 75,369.63 compared to its previous finish of 74,781.76. Following the opening rally, the market consolidated some of its initial gains, with the Sensex trading near 75,010.74, higher by 228.98 points or 0.31 percent, while the Nifty hovered around 23,457.95, up 59.85 points or 0.26 percent.

Sectoral Trends and IT Leadership

The rebound was primarily steered by the technology sector, which emerged as the day's standout performer. The Nifty IT index climbed over 4 percent during early trade, counterbalancing sustained drag in several other segments. Broader markets also held positive ground, though sectoral performance remained mixed.

While the technology basket saw aggressive buying, several sectors remained subdued and traded in the red, including metals, pharmaceuticals, public sector banks, real estate, healthcare, consumer durables, and cement.

Major Gainers and Laggards

Large-cap IT service providers led the recovery board across both exchanges, supported by select heavyweight banking and consumer stocks.

Top gainers on the NSE:

• HCL Technologies
• Tata Consultancy Services (TCS)
• Tech Mahindra
• Infosys
• TMPV
• Wipro
• HDFC Bank
• ITC

On the BSE, key contributors to the index's advance also included Hindustan Unilever alongside the top IT names.

Stocks trading lower on the NSE:

• Bharat Electronics Limited (BEL)
• Grasim Industries
• Larsen & Toubro
• Power Grid Corporation of India
• Titan Company
• NTPC
• ICICI Bank
• Cipla

The early momentum indicates value-seeking behavior by market participants in battered frontline IT stocks after a week dominated by consecutive declines.

Tags: BSE Sensex NSE Nifty 50 Nifty IT Infosys Tata Consultancy Services HCL Technologies