Sensex surges 1,533 points as IT rally adds Rs 82,500 crore in market value

Indian shares surged on Thursday as benchmark indices extended their winning streak to three consecutive sessions, driven by robust quarterly earnings from leading technology companies and sustained investor confidence in domestic economic stability.

The 30-share BSE Sensex jumped 1,533 points, or over 2%, to settle at 74,315, while the broader NSE Nifty 50 climbed 374.65 points, or 1.6%, to close at 22,997 after reclaiming the psychologically key 23,000 mark during intraday trade. The rally defied sharp downturns across regional Asian peers, where technology heavyweights slumped under valuation concerns surrounding global artificial intelligence investments.

IT heavyweights drive sectoral surge

The benchmark advance was anchored by the information technology sector. The Nifty IT index climbed 8% across three trading sessions, adding roughly Rs 82,500 crore to the aggregate market value of listed software service exporters.

Investor enthusiasm followed stronger-than-expected corporate report cards for the September quarter. Tata Consultancy Services posted a 15% year-on-year increase in consolidated net profit to Rs 13,884 crore, alongside steady quarterly revenue growth and an interim dividend declaration. Simultaneously, upbeat operational commentary from HCL Technologies and global peer Accenture reinforced confidence in resilient software service demand.

Global divergence highlights Indian resilience

The advance on Dalal Street contrasted with widespread selling across overseas markets. In Asia, South Korea’s Kospi plunged up to 8% and the Taiwan Weighted tumbled 4%, hit by a sharp correction in capital-intensive artificial intelligence hardware stocks.

Market strategists noted that while foreign institutional investors had previously rotated capital into offshore semiconductor and AI plays, the commercial viability questions facing global tech expenditure are redirecting flows back to fundamentally solid Indian equities. Indian IT service firms, which focus on enterprise execution rather than speculative capital commitments, offer steady cash flows and high dividend visibility.

Domestic sentiment received further support from the upcoming initial public offering of Jio Platforms, which filed its offer documents to raise up to Rs 30,213 crore later this month. Shares of index heavyweights Reliance Industries and Bharti Airtel advanced in tandem, reinforcing broad-based index momentum.

Rupee gains as energy pressures ease

Macroeconomic conditions offered additional breathing room for Indian assets. The Indian rupee appreciated for a fourth straight session, closing around 95.5 to the US dollar following active interventions by the Reserve Bank of India and a softening dollar index.

At the same time, international crude benchmarks declined. Brent crude dropped near $103.78 a barrel on easing supply concerns, moderating national import costs and bolstering fiscal expectations.

Analysts noted that sustained large-cap earnings delivery and prudent macroeconomic management continue to anchor Indian equity markets, shielding domestic growth prospects from external headwinds.