Nifty trades above 25,500 level; IT shares rally

The headline equity benchmarks traded with moderate gains during the morning trade, extending their recovery for the second consecutive day. The upward momentum was largely driven by strong buying interest in IT stocks, which helped keep the market in positive territory. Major IT players such as Tech Mahindra and HCL Tech emerged among the top gainers, supporting the broader rally. The Nifty traded above the 25,500 level. IT shares advanced for the second consecutive trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, advanced 174.51 points or 0.21% to 82,450.58. The Nifty 50 index gained 64.55 points or 0.25% to 25,547.05.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.52% and the BSE 250 SmallCap Index rose 0.35%.

The market breadth was strong. On the BSE, 2,324 shares rose and 1,244 shares fell. A total of 218 shares were unchanged.

Buzzing Index:

The Nifty IT index surged 1.59% to 31,013.05. The index rallied 3.19% in the two consecutive trading sessions.

Persistent Systems (up 2.89%), Oracle Financial Services Software (up 2.09%), Tech Mahindra (up 1.98%), Mphasis (up 1.35%), Infosys (up 1.23%), LTIMindtree (up 1.16%), HCL Technologies (up 1.04%), Tata Consultancy Services (up 1.02%), Coforge (up 0.77%) and Wipro (up 0.24%) advanced.

Stocks in Spotlight:

Websol Energy System added 1.39% after the company secured three purchase orders aggregating 85.5 MW for the supply of solar modules, with a total contract value of Rs 172 crore.

Shaily Engineering Plastics advanced 2.66% after the company secured a manufacturing and commercial supply agreement worth approximately Rs 423 crore from a large domestic pharmaceutical company for the supply of pen injectors.

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