By Shishir Prashant 
PrashantNews
Indian equity markets extended their recovery on Friday, with the Sensex rising 414 points and the Nifty closing above 23,100, as strong gains in information technology stocks following encouraging quarterly results lifted investor sentiment.
The BSE Sensex gained 414 points, or around 0.56 per cent, to close at 74,729.27, while the NSE Nifty 50 advanced around 0.7 per cent to 23,146.15. The gains followed Thursday’s sharp rally, when the Sensex had jumped more than 1,500 points.
IT stocks led Friday’s advance after better-than-expected quarterly earnings from technology companies. Tech Mahindra was among the standout performers, gaining nearly 8 per cent after reporting a 32.74 per cent year-on-year increase in consolidated net profit for the September quarter. Wipro, Infosys and Tata Consultancy Services also registered strong gains, supporting the broader indices.
The recovery in IT shares was further encouraged by expectations that strong deal wins and growing demand for artificial intelligence-related services could support business growth. Indian technology stocks also attracted buying after a global sell-off in AI-linked shares prompted investors to look for relatively attractive valuations.
PC Jeweller was another major market mover. Its shares jumped sharply during the session to touch a fresh 52-week high of Rs 17.13, extending their recent rally before closing at Rs 16.28 with a gain of 1.82 (+12.59%). The stock’s surge came amid reports the company had achieved debt-free status also supported investor interest, alongside expectations surrounding its business performance and expansion plans.
Despite the recovery, concerns over elevated crude oil prices and inflationary pressures in the United States continued to temper market optimism. Investors are now looking ahead to further corporate earnings, including results from major private-sector banks, for clues about the sustainability of the rally.
The Sensex and Nifty’s gains on Friday capped their strongest weekly performance in six months, reflecting a recovery led by IT stocks and renewed buying in selected shares.
