IT stocks power Nifty above 23,100 in mid-session trade; aviation, FMCG drag
Information technology stocks continued to anchor the rally. Tech Mahindra was the top performer on the Nifty 50, surging 8.04 per cent to ₹1,782.60 after touching an intraday high of ₹1,797.00.
The BSE Sensex and NSE Nifty 50 indices both powered past the 23,100 mark on Friday, marking a key breakout trigger for analysts. Tech Mahindra led the tech sector's rally, surging 8.04% to ₹1,782.60, while TCS and Infosys also gained ground. Telecom and automobile stocks added to the upward momentum, with Bharti Airtel and Mahindra & Mahindra both rising.
However, aviation stocks, particularly IndiGo, dragged the market lower with a 2.87% drop to ₹4,641.00. The Nifty FMCG index saw the most significant losses, becoming the worst-performing sectoral index. BSE's market breadth was positive but not decisive, with more stocks advancing than declining in volume. Overall, the market exhibited cautious optimism, with the Nifty's advance-decline ratio at 26:24 and a strong support level at 22,960–22,980.
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