MUMBAI: Benchmark equity indices sensex and Nifty rebounded on Friday after two days of losses and ended higher, tracking buying in blue-chip IT stocks and a rally in global markets. The 30-share BSE sensex climbed 331 points to settle at 77,265. During the day, it jumped 424 points to 77,358 points. The 50-share NSE Nifty, meanwhile, settled 85 points higher at 24,176 points.“Strong gains in IT stocks helped Indian equities close higher today. The sector was supported by Nvidia’s strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments. However, investor participation remained selective as markets awaited comments from the Fed Chair at the Jackson Hole symposium for greater clarity on the US interest-rate outlook and global liquidity conditions,” Vinod Nair, head of research, Geojit Investments, said.According to Hariselvan Radhakrishnan, founder & CEO of HST Wealth, a research analyst firm, investors remained positive on IT stocks amid supportive global cues for the sector. “Indian equity benchmarks ended higher on Friday, snapping a two-session losing streak as strong gains in technology stocks offset subdued performance across much of broader market. Technology stocks were session’s clear outperformers, with the Nifty IT index surging 3.5 per cent as investors responded positively to supportive global cues for the sector,” Radhakrishnan said.
