Strong comeback of IT shares! Sensex jumps 500+ points, Nifty crosses 24,200 Strong comeback by IT stocks! Sensex surges over 500 points, Nifty crosses 24,200.

Tremendous enthusiasm is being seen in the Indian stock market today. On Friday, the last trading day of the week, domestic benchmark indices Sensex and Nifty started with great strength. The rapid buying in the IT sector has made the mood of the market cheerful.

Market trends: IT sector’s success

In the morning session, BSE Sensex crossed the level of 77,700 with a rise of 480 to 600 points. At the same time, Nifty 50 was also seen trading above the important psychological level of 24,200 with a gain of more than 125 points. This rise in the market is mainly on the basis of huge buying in IT shares after the excellent quarterly results of Tech Mahindra.

Which stocks and sectors shone?

Nifty IT index was the brightest sector in today’s trading, which saw a jump of about 2 percent. Apart from this, investors are also interested in major shares of Reliance Industries and banking sector. According to market experts, the 24,000 level remains a strong support for Nifty, while the 24,400 level is a major hurdle on the upside.

Important signals for investors

Although the market is bullish, the concerns at the global level are not completely over yet. The increasing tensions in the Middle East and the rise in the price of Brent crude oil (about $ 85 per barrel) remain a challenge for the market. There is also selling pressure from foreign institutional investors (FIIs), hence experts advise to keep risk management in mind while investing in the market and focus only on stocks with strong fundamentals.