Indian equity benchmarks staged a dramatic intraday reversal on Friday, with the Nifty 50 and BSE Sensex shedding early losses to close in positive territory.
The recovery was driven by a broad-based rally in the information technology sector, which offset selling pressure from energy and commodity-sensitive stocks.
The IT sector’s performance was particularly notable, with the Nifty IT index jumping more than 4% in intraday trading.
The market opened sharply lower, with the Nifty dipping below the 24,000 mark amid renewed concerns over geopolitical tensions between the US and Iran.
Rising crude oil prices further weighed on sentiment, triggering a gap-down start that echoed the previous session’s 2% decline.
However, by midday, the Nifty had turned positive, supported by strong gains in major IT names including TCS, Infosys, HCL Technologies, and Tech Mahindra.
The IT sector’s performance was particularly notable, with the Nifty IT index jumping more than 4% in intraday trading.