IT and metal stocks lead gains as TCS rises after strong Q1 results.
Key Highlights
- Sensex surged over 700 points to trade around 77,500.
- Nifty climbed 200 points to cross the 24,150 mark.
- IT and metal stocks emerged as the top gainers.
- TCS shares gained more than 2% after reporting higher quarterly profit and revenue.
- The company also announced an interim dividend of ₹12 per share.
- Asian markets traded higher, while FIIs remained net sellers in the previous session.
Mumbai: Indian equity markets opened sharply higher on Friday, with the Sensex rising more than 700 points to around 77,500, while the Nifty advanced nearly 200 points to cross the 24,150 level, supported by strong buying in information technology and metal stocks.
The rally was led by Tata Consultancy Services (TCS), whose shares gained over 2% after the company reported a solid set of financial results for the first quarter of FY2026-27.
TCS posted a 5% year-on-year increase in net profit to ₹13,349 crore, compared with ₹12,760 crore in the corresponding quarter last year. Revenue from operations rose 14% year-on-year to ₹72,275 crore.
The company’s board also approved an interim dividend of ₹12 per equity share, with July 15 fixed as the record date.
Broader market sentiment remained positive, supported by gains across major Asian indices, including Japan’s Nikkei, South Korea’s Kospi and Hong Kong’s Hang Seng. US markets had also closed higher in the previous session.
Despite the strong market opening, foreign institutional investors (FIIs) remained net sellers in the previous trading session, selling equities worth ₹533 crore, while domestic institutional investors (DIIs) continued to provide buying support.
