Stock market update: Indian equities staged a strong rebound on Friday, led by a sharp rally in IT stocks after Tata Consultancy Services' quarterly results, ending the market’s eight-week losing streak. The Nifty 50 rose 288.65 points, or 1.30%, to close at 22,520.45, recovering from Thursday's 52-week low, while the Sensex gained 879.09 points, or 1.23%, to settle at 72,472.33.
The Nifty edged up about 0.4% for the week, its first weekly gain in nine weeks. Softer crude oil prices also helped sentiment. IT was the standout sector, rising nearly 3%, as TCS gained about 4% after beating profit estimates and reporting that its AI services revenue had crossed 10% of total revenue. Hexaware jumped about 10% after signing an AI partnership with Anthropic. Banks rose more than 1%, led by Kotak Mahindra Bank, HDFC Bank, and Federal Bank, while ITC and Eicher Motors gained about 4% each.
Hospital stocks such as Apollo and Max Healthcare recovered sharply, but Metal and Pharma stocks lagged. Breadth was positive, with 2,183 stocks advancing against 1,393 declining and 108 unchanged. This week, investors will watch more quarterly earnings, crude oil prices, and foreign fund flows.
Why it’s recommended: Strong premiumisation strategy led by brands like ICONiQ, Sterling Reserve and luxury portfolio expansion, driving higher margins and value growth. Expanding export footprint across the US, Africa, UAE, and other international markets, supported by portfolio diversification and capacity investments.
Key metrics: P/E: 91.59 | 52-week high: ₹753.80 | Volume: ₹76.61 lakhs