Nifty surpasses 23,800 level; IT shares rally for 4th day

The key benchmark indices traded with major gains in morning trade. The Nifty traded above 23,800 level. IT shares witnessed buying demand for the fourth consecutive trading session, as US President Donald Trump's softened stance on tariffs boosted sentiment, leading to increased buying interest.

At 10:25 IST, the barometer index, the S&P BSE Sensex, added 541.06 points or 0.69% to 78,525.44. The Nifty 50 index advanced 156.05 points or 0.66% to 23,814.40.

In the broader market, the S&P BSE Mid-Cap index fell 0.42% and the S&P BSE Small-Cap index declined 0.83%.

The market breadth was strong. On the BSE, 1,467 shares rose and 2,163 shares fell. A total of 184 shares were unchanged.

Buzzing Index:

The Nifty IT index jumped 1.60% to 37,810.80. The index jumped 4.38% in the four consecutive trading sessions.

HCL Technologies (up 2.93%), Persistent Systems (up 2.3%), Coforge (up 2.26%), Infosys (up 2.19%) and L&T Technology Services (up 2.18%), Mphasis (up 1.78%), Tata Consultancy Services (up 1.57%), Wipro (up 1.35%) and Tech Mahindra (up 1.12%) surged.

Stocks in Spotlight:

Brigade Enterprises shed 0.31%. The company has announced the acquisition of a 4.4-acre land parcel in Whitefield, East Bengaluru, for the development of a premium residential project.

Godrej Properties declined 1.49%. The company said that it has sold over 300 homes homes worth over Rs 1,000 crore with a total area of nearly 0.84 million square feet at its project Godrej Madison Avenue located in Kokapet, Hyderabad.

Rail Vikas Nigam (RVNL) rose 0.13%. The company announced that it has emerged as the lowest bidder (L1) for overhead equipment (OHE) work from Central Railway, with the project valued at Rs 115.79 crore.

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