Benchmark stock market indices erased gains it had achieved to close higher on Thursday, buoyed by a rally in IT stocks over rising hopes of a trade deal between the US and India.
The S&P BSE Sensex added 130.06 points to end at 84,556.40, while the NSE Nifty50 gained 22.80 points to close at 25,891.40.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic equities started on a positive note; however, they pared early gains as investors booked profits following sanctions on Russian oil and the possible postponement of India–US trade negotiations.
“Meanwhile, IT stocks advanced as sentiment improved after Trump’s softer tone on H1B visas. FIIs are gradually returning to Indian markets, encouraged by expectations of earnings rebound in H2FY26 supported by festive demand, tax benefits and GST reductions. As the undercurrent vibes of the domestic market have improved due to a possible India-US deal and a rise in consumer demand, the broad market is expected to do much better henceforth,” he added.
Infosys led the gainers on the BSE Sensex, rising 3.86%, followed by HCL Technologies which was up 2.43%. Tata Consultancy Services gained 2.24%, Axis Bank climbed 1.90%, and Kotak Mahindra Bank advanced 1.24%.
Eternal was the worst performer, slipping 2.88%, followed by UltraTech Cement which dropped 1.75%. Bharti Airtel declined 1.63%, Adani Ports fell 1.41%, and ICICI Bank was down 1.35%.
At the closing bell, the Nifty Midcap 100 index declined 0.06% while Nifty Smallcap 100 fell 0.05%. India VIX, the volatility gauge, rose 3.85%.
Among sectoral indices, Nifty Financial Services 25/50 gained 0.03%, Nifty FMCG advanced 0.29%, and Nifty IT climbed 2.21%. Nifty Media was up 0.31%, Nifty Metal rose 0.09%, Nifty PSU Bank added 0.28%, Nifty Private Bank increased 0.49%, and Nifty Realty gained 0.19%.
Nifty Auto, Nifty Pharma, Nifty Healthcare Index, Nifty Consumer Durables, and Nifty Oil and Gas were in the red. Nifty Auto fell 0.04%, Nifty Pharma declined 0.15%, Nifty Healthcare Index dropped 0.33%, Nifty Consumer Durables slipped 0.03%, and Nifty Oil and Gas lost 0.57%.
