The Sensex and Nifty opened higher on Tuesday, with IT stocks leading the market rally after the holiday break.
The Sensex surged 587.87 points to 75,369.63, while the Nifty50 gained 178.05 points to reach 23,576.15.
Infosys led the gains, rising 4.22 percent in early trade, with HCL Tech, TCS, Tech Mahindra and HDFC Bank also higher.
The rally came despite Brent crude oil prices staying near $107 a barrel and mixed cues from global markets.
Markets had been closed on Monday for Ganesh Chaturthi, with the Sensex closing at 74,781.76 in the previous session on Friday, September 11.
The BSE Sensex and NSE Nifty remain the two primary benchmarks used to track the overall health of Indian equity markets.
Infosys led the gainers on the Sensex, rising 4.22 percent in early trade, with HCL Tech, TCS, Tech Mahindra and HDFC Bank also among the top performers.
The rally in IT shares came despite mixed global cues, with Brent crude oil prices staying near $107 a barrel during the session.
Markets had been closed on Monday, September 14, for the Ganesh Chaturthi holiday, with the last trading session on Friday, September 11, seeing the Sensex close at 74,781.76.
The IT sector rally is being watched closely as a signal of how Indian technology services firms are pricing in demand recovery from key overseas markets.
Foreign institutional investor activity and crude oil price movements have remained the two most-watched factors shaping Indian market sentiment through September.
The Nifty50’s gain of over 178 points at the open reflected broad-based buying interest rather than a narrow, sector-specific rally.
Indian benchmark indices have shown notable volatility through September, swinging between sessions of sharp declines and sessions of strong recovery.
Trading volumes on the opening day after a market holiday are often elevated as investors react to news and global developments that accumulated during the closure.
National Stock Exchange of India, Mumbai, Wikimedia Commons, CC BY-SA 2.0
