Stock Market Update: Sensex opens at 742 points, Nifty at 206 points; TCS shares in spotlight

Mumbai: Indian equity benchmarks opened sharply higher on Friday, tracking strong gains across Asian markets and positive global cues, while investors assessed Tata Consultancy Services’ first-quarter earnings.

In the pre-opening session, the 30-share BSE Sensex surged around 600 points, while the NSE Nifty 50 climbed above the 24,100 mark. The positive start followed Thursday’s recovery, when the Sensex closed at 76,741.82 and the Nifty settled at 23,962.80.

Global Rally Lifts Market Sentiment

Domestic equities received support from strong Asian markets, led by a rally in semiconductor, technology and artificial intelligence-linked stocks.

Japan’s Nikkei and South Korea’s Kospi traded sharply higher in early deals, while GIFT Nifty had indicated a gain of about 100–120 points before the opening bell. Crude oil prices easing towards $75 per barrel also supported sentiment in the oil-importing Indian economy.

However, investors remained watchful of geopolitical developments in West Asia and disruptions surrounding energy supplies through the Strait of Hormuz.

TCS Shares in Focus After Q1 Earnings

Tata Consultancy Services remained the key stock to watch after India’s largest IT services company reported better-than-expected revenue for the June quarter.

TCS reported a 14 per cent year-on-year increase in revenue to ₹72,275 crore, supported by higher banking-sector spending, large financial-services deals and the benefit of a weaker rupee.

Its net profit rose 4.6 per cent to ₹13,349 crore. The company also announced an interim dividend of ₹12 per share.

Investors are closely tracking the management’s commentary on client spending, artificial intelligence revenue, employee additions and the demand outlook for manufacturing and life sciences.

TCS said its annualized AI revenue increased to $2.6 billion, although its order book declined to $9.5 billion from $12 billion in the previous quarter.

IT and Banking Stocks Drive Early Gains

Information technology shares were expected to remain active following the TCS results, while banking, financial services and heavyweight index stocks also supported the positive market opening.