Sensex accelerated 879 points to 72,472, Nifty 289 points to 22,520, marking a 0.8% and 1.3% rise respectively—an almost 80% rebound from Thursday’s 1,200‑point slide. According to BSE filings, the index up‑turn was driven by a 3% surge in the IT index, with Tata Consultancy Services reporting Q2 earnings that matched analyst expectations of ₹1,152 per share.
ITC and Apollo Hospitals led the charge; ITC leapt 4% after a block‑deal exit by GQG, while Apollo climbed 5% following a lower‑than‑expected cap on cancer drugs. Colgate‑Palmolive also posted a 5% gain after a GST duty structure update, and gold‑financing names like Manappuram Finance edged 3% higher, riding a 2% rise in gold prices.
Market breadth was solid: the advance‑decline ratio closed at 3:2, with 65% of stocks advancing. The Nifty Bank index surged 742 points to 55,257, while the Midcap index gained 905 points to 58,787. Metal, realty and power indices fell up to 4%, but capital markets and fast‑moving consumer goods indices lifted up to 3%.
Looking ahead, the market will chew on next‑week earnings from Adani Enterprises, Max Healthcare, and JSW Steel, all hovering near their 12‑month highs. Analysts expect ITC to report a 12% YoY revenue jump, while TCS is slated to release a Q3 briefing on Thursday—potentially offering another catalyst for the rally. Traders should watch for any policy signals from the RBI as the session progresses.