Sensex jumps 335 points, Nifty gains 87 in IT rally
Business
The Indian stock market kicked off Tuesday with a solid boost, thanks mostly to IT giants like Infosys, Tech Mahindra, TCS, and HCL Technologies.
Sensex jumped 335 points and Nifty rose 87 points in early trade around 9:19am.
The Nifty IT index was clearly in the spotlight, soaring over 3%, so tech stocks were definitely having their moment.
India mid and small caps higher
Beyond IT, mid-cap and small-cap indices also edged higher.
Sector-wise, FMCG, pharma, PSU banks, and oil and gas traded up, while auto, realty, and metal saw minor dips.
Banking stocks had a mixed start; SBI and ICICI Bank ticked up, but Kotak Mahindra Bank and Axis Bank slipped a bit.
Volatility dropped sharply (India VIX fell by 4.45% to 18.76), hinting at calmer investor nerves today.