IT Rally Lifts Sensex, Nifty Sharply Higher

Indian equity markets opened on a strong note on Wednesday, driven by heavy buying in IT stocks. The Nifty IT index surged nearly 2.5%, while foreign institutional investors (FIIs) purchased shares worth ₹755 crore in the previous trading session. Positive sentiment was also supported by reports that the US Federal Reserve is likely to keep interest rates unchanged, while the Indian rupee strengthened to 95.76 against the US dollar.

The Sensex opened nearly 600 points higher than its previous close of 76,765 and continued to gain momentum. At around 9:40 a.m., the Sensex was trading 761 points higher at 77,527, while the Nifty rose 219 points to 24,204. KPIT Technologies, Swiggy, Coforge, SAIL, and Infosys were among the top gainers, whereas Phoenix Mills, Motherson, KFin Technologies, L&T Finance, and CG Power traded in the red. Bank Nifty and the Nifty Midcap Index also posted healthy gains.