16.01.202604:58:55UTC+00Indian Stocks Poised to End the Week Higher

In the Friday morning trading session, the BSE Sensex experienced an uptick, climbing 371 points or 0.8% to settle at 84,013. This rise effectively counteracted the declines noted over the two prior sessions. The rebound came as markets reopened following a holiday break, significantly boosted by a surge within the technology sector. Notably, IT stocks surged by 2.9%, largely fueled by Infosys, which saw its shares soar by 4.8% after it posted robust quarterly earnings and revised its full-year revenue projection upward.

This positive movement mirrored an encouraging performance in the US markets overnight, where tech shares and strong earnings reports from leading banks lifted sentiment. The momentum in Infosys shares also positively impacted other tech stocks such as Tech Mahindra, which rose by 2.5%, and HCL Tech, which climbed 1.4%. Beyond the tech sector, banking shares showed substantial gains, as did those in financial services and the automotive industry. Noteworthy performers included Mahindra & Mahindra with a 1.3% gain, Bajaj Finserv advancing by 1.1%, and Tata Motors rising by 1.0%. For the week, the index is on track for a 0.2% increase, recovering from losses recorded in the previous week.