Sensex jumps 398 pts, Nifty tops 25,150; all eyes on TCS earnings

Domestic equity markets resumed their upward march on Thursday ahead of TCS earnings, with both the Sensex and Nifty ending in the green after a brief pause on Wednesday. The rally mirrored gains in global markets as easing tensions in the Middle East lifted risk appetite. Investor sentiment also stayed buoyant ahead of Tata Consultancy Services’ (TCS) quarterly results scheduled today.

At the closing bell, the Sensex rose 398.44 points, or 0.49 per cent, to close at 82,172.10, while the Nifty50 gained 135.65 points, or 0.54 per cent, to settle at 25,181.80. Rupak De, Senior Technical Analyst at LKP Securities, said the 50-pack index moved higher, shrugging off yesterday’s negativity. 

“However, the index remained below the resistance level of 25,250. The short-term sentiment remains positive, with the index sustaining above the critical moving averages on the daily timeframe. On the higher end, a decisive move above 25,250 might trigger a rise towards 25,600 in the short term, while on the lower end, support is placed at 25,000," De said.

Tata Steel emerged as the top gainer on the Sensex, rising 2.65 per cent to Rs 176.40. HCL Tech followed with a 2.21 per cent rise, while Ultratech Cement, Bharat Electronics, Sun Pharma and TCS gained 1.50 per cent, 1.42 per cent, 1.37 per cent, and 1.16 per cent, respectively.

Five stocks, namely, Reliance Industries, Infosys, L&T, Tata Steel and TCS, contributed heavily to the Sensex’s rise.

Among sectoral indices, the BSE IT index jumped 1.02 per cent to 34,985.53, while the BSE Metals index declined 2.16 per cent to 34,285.11.

Within the BSE 100 pack, Eternal and Tata Steel hit fresh 52-week highs at Rs 347.50 and Rs 177.85, respectively.

Overall, out of 4,350 actively traded stocks on the BSE, 2,118 ended higher, while 2,064 declined and 168 closed unchanged. During the session, 155 stocks scaled their 52-week highs, whereas 149 slipped to 52-week lows. Meanwhile, 241 scrips were locked in their upper circuits and 183 in lower circuits.