Indian Equities Rally Led by Strong Gains in IT and Auto Sectors
Indian stock markets ended Tuesday’s session on a firm note, powered by robust gains in the information technology and auto sectors. The benchmark indices surged amid positive global cues, strong quarterly results from major IT firms, and selective buying in blue-chip counters. The Nifty 50 ended the session 161.70 points higher at 24,328.95, while the BSE Sensex gained 520.90 points, closing at 80,116.49, recording a solid 0.65% uptick.
The market breadth was largely positive with 1,989 stocks advancing, 1,832 declining, and 141 remaining unchanged, reflecting a balanced participation across segments. Investors remained optimistic as earnings season continued to roll out with several heavyweight companies beating expectations, especially in the technology sector.
Highlights:
Nifty 50 closed at 24,328.95, up 0.67%.
Sensex ended at 80,116.49, rising 520.90 points.
Market breadth: 1,989 gainers, 1,832 losers, 141 unchanged.
IT Index Leads the Charge With 4% Jump; Auto Stocks Follow
The Nifty IT index was the top sectoral gainer, soaring 4% on the back of strong buying interest in frontline tech stocks such as HCL Technologies, Tech Mahindra, Wipro, and Infosys. Sentiment in the sector was buoyed by improved guidance and resilient margins reported in the Q4 earnings from several firms, which allayed concerns around macroeconomic headwinds from the US and Europe.
The auto index also delivered a strong performance, rising over 2%, supported by gains in Tata Motors, which continued to rally amid optimism over electric vehicle adoption and robust demand in domestic and export markets. However, defensive sectors such as PSU Banks and consumer durables witnessed mild profit-booking, with indices falling in the 0.5% to 1% range.
Highlights:
IT Index up 4%: Strong results and optimistic guidance drive rally.
Auto Index up 2%+: Tata Motors leads gains.
PSU Banks & Consumer Durables down 0.5–1% on profit-booking.
Top Gainers and Losers on the Nifty 50
Among the top-performing stocks on the Nifty 50, HCL Technologies, Tech Mahindra, Tata Motors, Wipro, and Infosys posted impressive gains, benefiting from positive earnings surprises and institutional buying. These IT majors are expected to maintain their growth momentum, aided by robust deal wins, digital transformation demand, and operational efficiency.
On the flip side, major financial names like HDFC Bank, Kotak Mahindra Bank, Axis Bank, and SBI ended in the red, indicating a sectoral rotation out of financials into more cyclical and growth-oriented sectors. Additionally, Grasim Industries also witnessed selling pressure amid concerns over input costs and margin pressures in its chemicals business.
Highlights:
Top Gainers: HCL Tech, Tech Mahindra, Tata Motors, Wipro, Infosys.
Top Losers: HDFC Bank, Kotak Bank, Axis Bank, SBI, Grasim Industries.
Midcap and Smallcap Indices Show Moderate Strength
The BSE Midcap Index outperformed broader benchmarks, rising 1%, supported by sustained buying in mid-tier IT, auto ancillary, and consumer discretionary stocks. The Smallcap Index gained marginally by 0.2%, reflecting cautious optimism among retail and high-net-worth investors in high-beta counters.
Despite the volatility in select pockets, broader markets showed resilience, indicating a healthy underlying trend supported by stock-specific earnings momentum and positive risk appetite.
Highlights:
BSE Midcap Index rose 1%.
BSE Smallcap Index up 0.2%.
Strong traction seen in mid-tier IT and consumer discretionary stocks.
Investor Sentiment Bolstered by Earnings Optimism and Global Support
The strong rally in Indian equities on April 23 was also underpinned by encouraging global market trends. Wall Street’s overnight rebound and stable macroeconomic indicators from the Eurozone helped boost sentiment. Domestically, expectations of a gradual demand recovery, easing inflationary pressures, and supportive monetary policy stance by the RBI also played a key role in uplifting market confidence.
Investors are now eyeing upcoming earnings from heavyweights such as Nestle India, ICICI Bank, and Reliance Industries, which are expected to provide further cues on sectoral trends and the overall corporate outlook.
Highlights:
Global markets rebound provides external tailwind.
RBI’s dovish stance continues to support market momentum.
Focus shifts to next batch of Q4 earnings from major blue chips.
