Sensex Bounces Back 879 Points in Sharp Tech-Led Recovery

MUMBAI: Indian benchmark equity indices staged a dramatic recovery on Friday as strong value buying and aggressive short covering lifted investor sentiment following a steep sell-off in the previous session. The 30-share BSE Sensex jumped 879.09 points, or 1.23 per cent, to settle at 72,472.33 after fluctuating nearly 930 points throughout the trading day. Similarly, the broader NSE Nifty 50 advanced 288.65 points, or 1.30 per cent, reclaiming the psychological 22,500 mark to close at 22,520.45.

Broader market indices joined the rally, with mid-cap and small-cap stocks finishing solidly in positive territory. The domestic currency also strengthened against the US dollar in tandem with its Asian peers, providing additional tailwinds to the domestic equities rebound.

The turnaround was primarily spearheaded by heavy buying across the information technology sector, which surged over 3 per cent. Leading IT giants, including Tata Consultancy Services (TCS), Infosys, Wipro, and Tech Mahindra, posted significant gains, helping the market absorb earlier macroeconomic and geopolitical pressures.

Investor confidence in technology majors revived after TCS clarified to stock exchanges that recent US green-card application suspensions would not disrupt its workforce strategy or client commitments. Despite lingering market headwinds—such as high crude oil prices, persistent foreign institutional investor (FII) outflows, and high interest rates—bargain hunters stepped in to capitalize on lower stock valuations, steering the domestic indices to a decisive weekly finish.