Indian benchmark equity indices traded sharply higher on Friday, with the BSE Sensex climbing around 800 points (0.95%) to the 77,500 level, while the NSE Nifty 50 advanced nearly 200 points (0.90%) to trade around 24,150 during the session. The rally was driven by strong buying in information technology and metal stocks, while positive global market trends and encouraging corporate earnings further boosted market sentiment.

Market breadth remained positive as investors accumulated shares across multiple sectors. Analysts said improved risk appetite and optimism around corporate performance contributed to the day's gains, even as foreign institutional investors remained net sellers in the previous trading session.

IT and Metal Stocks Lead Gains

Sectoral indices traded firmly in positive territory throughout the session, with the Nifty Metal index emerging as the top performer. Information technology stocks also witnessed strong buying interest after the latest quarterly earnings announcements.

Among the major gainers, Tata Consultancy Services (TCS) rose more than 2%, trading near ₹2,090 after announcing its financial results for the first quarter of FY2026-27.

The company reported a 5% year-on-year increase in net profit to ₹13,349 crore, compared with ₹12,760 crore in the corresponding quarter last year. Revenue from operations also increased 14% year-on-year to ₹72,275 crore, reflecting steady business growth despite a challenging global environment.

The board of TCS also approved an interim dividend of ₹12 per equity share for the financial year 2026-27 and fixed July 15 as the record date for determining shareholder eligibility.

Global Markets Offer Support

Positive sentiment in Asian markets supported domestic equities.

Major Asian indices traded higher, with South Korea's KOSPI gaining over 4%, Japan's Nikkei advancing nearly 1.8%, and Hong Kong's Hang Seng rising close to 2% during the session.

Wall Street also ended higher overnight. The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all closed with gains, providing supportive cues for Asian and Indian markets.

Oil Prices Hold Steady

Crude oil prices remained largely stable on Friday, with Brent crude trading around $76 per barrel during the session. Stable energy prices helped ease concerns over inflationary pressures and supported investor confidence across equity markets.

Institutional Investor Activity

According to provisional market data, Foreign Institutional Investors (FIIs) remained net sellers on Thursday, offloading equities worth approximately ₹533 crore.

In contrast, Domestic Institutional Investors (DIIs) continued their buying trend, purchasing shares worth around ₹2,058 crore. Over the past month, DIIs have remained strong net buyers, helping offset intermittent foreign selling and providing stability to domestic markets.

Market participants will now closely monitor upcoming corporate earnings, global economic developments, foreign investment flows, and commodity price movements for further direction. Analysts believe sustained buying in heavyweight sectors such as information technology, banking, and metals could continue to influence market performance in the near term.