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Stock Market Today: Nifty Reclaims 22500, Investors Gain 4.5 Lakh Crore
- •The Sensex closed 879 points higher at 72472 and Nifty gained 288 points to close at 22520 on Friday.
- •Total market capitalization of BSE-listed companies increased by Rs 4.47 lakh crore to reach Rs 465.44 lakh crore.
- •IT stocks rallied strongly led by TCS after reporting accelerated AI-driven revenues, pushing Nifty IT up over 3 percent.
- •Easing geopolitical tensions, falling crude oil prices, positive global cues, and a strengthening rupee boosted market sentiment.
Key Questions Answered
Driven by a rally in IT stocks and positive global cues, the stock market surged, making investors richer by Rs 4.47 lakh crore. The Nifty closed 288 points higher at 22,520, while the Sensex rose 879 points to close at 72,472.
IT stocks rallied due to accelerated AI-driven revenues and international growth reported in TCS's September quarter results, causing its shares to jump around 5 percent. TCS and HCL Technologies emerged as top gainers on the Nifty 50, while the Nifty IT index climbed over 3 percent.
Investor sentiment was boosted after Donald Trump stated an attack on Iran would wait until after mid-term elections, easing geopolitical concerns. Additionally, Brent crude fell 1.11 percent to $103 per barrel and the rupee strengthened to 96.65 per dollar, supporting market sentiment.
