Sensex rises 450 pts, Nifty nears 24,200; IT stocks top gainers 

The Indian stock market opened higher on Friday despite negative global cues. Sensex rose 450 points to 77,640 and Nifty gained 120 pts to 24,190 today amid the ongoing earnings season. Among Sensex constituents, Infosys, Tech Mahindra, TCS, HCL Tech, and RIL shares were the top gainers today, rising up to 2.63%. 

Top Sensex losers were Eternal, Sun Pharma, Baja Finserv, ITC and Adani Ports falling up to 0.54%. 

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, "The range bound construct of the market is likely to continue. Depreciating rupee has been weighing on the market this week. FCNR B deposit mobilisation by commercial banks is running below expectations, impacted by the high bond yields in the US. This trend, contrary to expectations, has impacted the rupee making it the worst performing currency in Asia this week with a depreciation above 1%. This has again impacted FII flows which had turned positive early this month. Yesterday FIIs sold equity for Rs 4206 crores which might impact sentiments today."

Rajesh Palviya, Head of Research, Axis Direct said, "From a technical perspective, Nifty continues to consolidate within a narrow range, signalling indecision rather than weakness. The 23,900–23,800 zone remains a crucial support area, while 24,150 is the immediate hurdle. A sustained move above this level could trigger fresh momentum towards 24,300, whereas a break below support may invite another round of profit booking. With earnings season gathering pace, stock-specific opportunities are likely to outperform broad index moves, keeping volatility elevated despite a range-bound headline index."

Previous session 

The stock market closed on a flat note on Thursday amid positive global cues. Sensex ended 1 pts higher at 77186 and Nifty fell 6 pts to 24,072 today amid the ongoing earnings season. Among Sensex constituents, IndiGo, HCL Tech, Bajaj Finance, Maruti, M&M, Tech Mahindra, Titan and ITC were the top gainers today, rising up to 1.84%.