IT stocks' rebound lifts Sensex to 77,400 and Nifty 24,122
Business
Markets traded sharply higher in afternoon trade on Thursday, with the Sensex crossing 77,400 and Nifty hitting 24,122, both up nearly 0.5%.
The rally was driven mainly by IT stocks bouncing back after a losing streak.
Nifty IT jumps 4.5%
Nifty IT jumped 4.5%, with big names like Infosys, HCLTech, Tech Mahindra, Wipro, and TCS leading gains.
Midcap and smallcap stocks also had a good day: Exide Industries and IT firms like Coforge saw rises of up to 7%, while Zensar Technologies and Tata Technologies surged as much as 12%.
With over twice as many advancing stocks as declining ones and more than 100 hitting new highs, investor confidence looked solid all around.