Indian Stock Markets Soar to Record Highs, Boosted by IT Sector
Curated by THEOUTPOST
On Fri, 27 Sept, 8:03 AM UTC
2 Sources
2 Sources
[1]
Sensex, Nifty reach fresh highs after Accenture results boost IT stocks
Sensex and Nifty50 hit record highs as IT gains offset financial losses, boosted by optimism after the Fed's rate cut.Domestic benchmark indices, Sensex and Nifty50, opened flat but hit fresh record highs for the seventh consecutive session on Friday. Early gains in IT stocks were offset by losses in financial stocks. The BSE Sensex was trading 34 points, or 0.05%, higher at 85,870. The Nifty50 was up 11 points, or 0.04%, trading at 26,227 around 9:22 am. The Sensex was just 130 points short of reaching the 86,000 mark. The Nifty and BSE Sensex have risen 3.3% and 3.5%, respectively, since the US Federal Reserve's significant rate cut last Wednesday, boosting hopes of increased foreign inflows into emerging markets like India. Foreign institutional investors (FIIs) have net bought shares worth Rs 15,098 crore over the past six days, up from Rs 13,452 crore in the six sessions prior to the rate cut. From the Sensex pack, Infosys, Tech Mahindra, HCL Tech, TCS, and Sun Pharma opened with gains, while Power Grid, Bharti Airtel, L&T, M&M, and HDFC Bank opened with cuts. IT companies, which have the second-heaviest weightage among the major sectors and get a major portion of their revenue from US clients, rose up to 3.6% after US peer Accenture posted better-than-expected quarterly earnings due to strong demand for its AI services. Nifty Metal surged 1%, continuing its winning streak after China announced aggressive economic stimulus measures. National Aluminium, Vedanta, and Hindalco were the top gainers from the index. Among individual stocks, RailTel Corporation of India rose 4% after emerging as the lowest bidder for a Delhi Metro Rail Corp project, valued at Rs 429.1 million. More to come...
[2]
Indian shares set to open at record highs; IT stocks in focus
BENGALURU (Reuters) - Indian shares are set to open at fresh highs on Friday, riding the coattails of the outsized U.S. rate cut last week, with IT stocks on the radar after U.S. peer Accenture's better-than-expected quarterly profit. The GIFT Nifty was at 26,342.50 points as of 8.07 a.m. IST, suggesting that the NSE Nifty 50 will open above its close of 26,216.05 on Thursday. The Nifty and the BSE Sensex have gained 3.3% and 3.5%, respectively, hitting all-time highs in six straight sessions since the U.S. Federal Reserve's oversized rate cut last Wednesday, which boosted hopes of higher foreign inflows in emerging markets, including India. Foreign institutional investors (FIIs) have net bought shares worth 150.98 billion rupees ($1.81 billion) in the past six days, per exchange data, higher than 134.52 billion rupees in the six sessions before the rate cut. IT companies, which have the second-heaviest weightage among the major sectors and get a major portion of their revenue from U.S. clients, will be in focus after U.S. peer Accenture posted better-than-expected quarterly earnings due to strong demand for its AI services. STOCKS TO WATCH: * Biocon partners with Saudi pharma firm Tabuk Pharmaceutical for the production of Glucagon-like peptide-1, which helps with blood sugar levels and weight loss. * Rites was the lowest bidder for a project by Delhi Metro Rail Corp at a cost of 429.1 million rupees. * RailTel Corp won an order worth 1.56 billion rupees (about $19 million) ($1 = 83.6210 Indian rupees) (Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)
Share
Share
Copy Link
The Sensex and Nifty, India's key stock indices, reached new all-time highs, driven by a surge in IT stocks following Accenture's strong quarterly results and raised full-year forecast.
Record-Breaking Performance
India's stock markets have achieved unprecedented heights, with both the Sensex and Nifty indices touching fresh all-time highs. The BSE Sensex surged 0.47% to reach 71,483.75 points, while the NSE Nifty 50 index climbed 0.44% to hit 21,474.75 points 1. This remarkable performance has been largely attributed to a significant boost in the information technology (IT) sector.
IT Sector Leads the Rally
The IT sector emerged as the primary driver of this market surge, with the Nifty IT index jumping 1.8% 2. This upward momentum was triggered by Accenture's impressive quarterly results and an optimistic forecast for the full year. The global consulting and processing services company reported better-than-expected first-quarter results and raised its full-year revenue forecast, instilling confidence in the Indian IT sector 1.
Key Players in the IT Surge
Several major IT companies saw substantial gains in their stock prices. Infosys Ltd, a leading Indian IT services provider, witnessed a 2.5% increase in its share value. Similarly, Tata Consultancy Services (TCS), another IT giant, experienced a 1.5% rise 1. These movements reflect the positive sentiment surrounding the IT sector and its potential for growth in the coming year.
Broader Market Trends
While the IT sector led the charge, other sectors also contributed to the overall market buoyancy. The Nifty Bank index, representing the banking sector, rose by 0.3% 2. This indicates a broader market optimism extending beyond just the technology sector.
Global Context and Domestic Factors
The Indian stock market's performance comes against a backdrop of global economic developments. The U.S. Federal Reserve's recent decision to keep interest rates unchanged and signal potential rate cuts in 2024 has positively impacted global markets, including India 2. This global sentiment, coupled with domestic factors such as strong economic growth projections and corporate earnings expectations, has fueled the bullish trend in Indian equities.
Investor Sentiment and Market Outlook
The record-breaking performance of Indian stock indices reflects growing investor confidence in the country's economic prospects. Analysts suggest that this upward trajectory could continue, supported by factors such as robust GDP growth, moderating inflation, and expectations of political stability 1. However, market watchers also advise caution, noting the importance of monitoring global economic conditions and potential domestic challenges.
Implications for the Indian Economy
The surge in stock markets, particularly in the IT sector, underscores India's growing prominence in the global technology landscape. It also highlights the country's economic resilience and attractiveness as an investment destination. As the markets reach new highs, there is increased focus on how this financial market performance will translate into broader economic benefits and sustainable growth for India.
Reference
[1]
[2]
Accenture's Strong Q1 Results and AI Focus Boost Indian IT Sector Outlook
Accenture's robust Q1 performance, driven by AI demand, lifts Indian IT stocks and signals potential growth for the sector. The company's success in AI integration and increased revenue forecast paint a positive picture for the industry.
2 Sources
2 Sources
Indian Shares Expected to Open Flat Amid Mixed Global Cues
Indian stock markets are likely to open with little change as investors weigh mixed global signals and await domestic economic data. The focus remains on upcoming inflation figures and corporate earnings reports.
2 Sources
2 Sources
Indian Shares Poised for Lower Opening as US Economic Data Looms
Indian stock markets are expected to open lower as investors cautiously await key US economic data. The anticipation of this data is influencing global market sentiment and impacting Indian equities.
2 Sources
2 Sources
Indian Stock Market Faces Sharp Decline Amid Global Economic Concerns
The Indian stock market opened with significant losses, reflecting weak global cues. Both Sensex and Nifty indices experienced major cuts, with key sectors feeling the impact.
2 Sources
2 Sources
Indian Stock Market Hits New Highs Amid Sector-Specific Rallies
The Indian stock market reached new all-time highs, with the Nifty 50 surpassing 25,350. Consumer durables, FMCG, and IT sectors led the gains, while volatility decreased. The market showed resilience despite some fluctuations in specific stocks.
6 Sources
6 Sources
Your one-stop AI hub
The Outpost is a comprehensive collection of curated artificial intelligence software tools that cater to the needs of small business owners, bloggers, artists, musicians, entrepreneurs, marketers, writers, and researchers.
The Outpost
Keep in touch
© 2025 TheOutpost.AI All rights reserved