
Indian equities rallied Friday with the Sensex up 600 points and Nifty above 24,000. Infosys (Alpha Score 57) and HDFC Bank led the move as banking and IT stocks rebounded from this week's oil-driven selloff.
The Sensex jumped 600 points on Friday, lifting the Nifty above the 24,000 mark for the first time in two weeks. Banking and technology stocks led the advance, with HDFC Bank, Infosys, and Wipro among the most actively traded names on the NSE.
HDFC Bank carries an Alpha Score of 46, Infosys 57, and Wipro 46. The three stocks were part of a broad-based rally that saw the Nifty Bank index rise alongside the Nifty IT index. State Bank of India, Axis Bank, and NTPC also featured on the day's top-trending list.
The move reverses some of the losses from earlier this week, when Indian indices slid 2% after crude oil breached $105 a barrel on renewed geopolitical tensions. That selloff had pushed the Nifty below 23,500. Friday's rally suggests the market is pricing in a de-escalation of those risks, at least for the near term.
A similar pattern played out in the previous session, when FMCG stocks led a recovery as geopolitical risk premiums receded. The banking sector has been a key driver of the rebound, with investors rotating back into financials after the oil-driven shock.
For traders, the question is whether the Nifty can hold above 24,000. The level had acted as resistance in late March. A close above it on Friday would mark the first weekly gain in three weeks and could open the door to a test of the 24,200 zone. On the downside, support sits at 23,800, the level that held during Wednesday's low.
The rally comes ahead of a light data calendar next week, with no major domestic economic releases scheduled. Global cues, particularly crude oil prices and the dollar index, will remain the primary swing factors.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.