Sensex, Nifty Climb on Strong Gains in IT and FMCG Sectors

New Delhi : In a remarkable turnaround, India’s benchmark indices — the BSE Sensex and NSE Nifty — staged a sharp rebound on Friday, driven primarily by strong buying in blue-chip IT stocks and FMCG giant ITC. The Sensex soared by 953.18 points, or 1.27%, to close at 75,410.39, while the Nifty climbed 299.35 points, or 1.33%, to settle at 22,957.10.

The rally marked a positive close to what had been a volatile trading week, with investor sentiment buoyed by optimism in the information technology (IT) and fast-moving consumer goods (FMCG) sectors. Key IT stocks like Infosys, TCS, and HCL Technologies led the charge on the back of upbeat guidance and expectations of improved global tech spending.

ITC, one of the Nifty’s top gainers, saw its stock surge following positive analyst commentary on its diversified business strategy and stable earnings outlook. FMCG stocks broadly benefited from strong domestic consumption trends, which have remained resilient despite global economic uncertainties.

Market experts attribute Friday’s rally to confidence in India’s macroeconomic fundamentals. “India continues to be a bright spot with robust domestic demand, manageable inflation, and an improving industrial output. Investors are looking at sectors with strong earnings visibility,” said Aditi Singh, a market strategist with a leading brokerage firm.

In addition to sectoral momentum, global cues also played a role in driving markets higher. Asian markets largely ended in the green, and easing crude oil prices offered relief to inflation-sensitive sectors like logistics and transportation.

Broader markets followed suit, with the Nifty Midcap 100 and Nifty Smallcap 100 indices both ending in the positive territory. The India VIX, a measure of market volatility, also declined by over 5%, indicating reduced investor anxiety.

Among other major gainers were Hindustan Unilever, Tech Mahindra, and Nestle India. Banking stocks, however, saw mixed performance with private lenders like ICICI Bank and Axis Bank trading flat.

Analysts expect market momentum to continue into next week, especially if corporate earnings remain robust and foreign institutional investors (FIIs) continue their buying streak.