Blue-chip buying propels Sensex up 965 points, Nifty crosses 24,330
Rediff 1d ago·17 Jul 2026, 11:57 am
Originally published by Rediff. Read on Rediff →
Indian stock markets experienced a robust surge, with the Sensex jumping 964.58 points and the Nifty crossing the 24,330 mark, fuelled by strong buying in blue-chip, IT, and banking stocks amidst positive Q1 earnings expectations and a strategic shift towards large-cap investments.
Market benchmark indices ended sharply higher on Friday, with the Sensex climbing 964.58 points and the Nifty reaching the 24,330 level, led by buying in blue-chip Reliance Industries, bank and IT stocks.
After a subdued ending in the previous trade, the 30-share BSE Sensex bounced back 964.58 points, or 1.25 per cent, to settle at 78,151.45.
During the day, it surged 1,095.68 points, or 1.41 per cent, to 78,282.55.
The 50-share NSE Nifty climbed 261.55 points, or 1.09 per cent, to end at 24,334.30.
Top Performers and Market Drivers
From the Sensex pack, Tech Mahindra jumped 3.91 per cent after it reported a 28.4 per cent rise in consolidated net profit for the June quarter to Rs 1,465 crore, and expressed confidence about the demand environment.
Kotak Mahindra Bank, Tata Consultancy Services, Reliance Industries, Hindustan Unilever, Mahindra & Mahindra, Axis Bank, ICICI Bank and Bajaj Finance were also among the winners.
Reliance Industries is scheduled to announce its June quarter earnings later in the day.
Sun Pharma, Trent, Bharti Airtel and UltraTech Cement were among the laggards.
Expert Insights on Market Trends
"There is a shift in market momentum, with strong traction moving toward large-cap stocks, led by the IT and banking sectors. This is supported by optimism around business updates and Q1 earnings expectations," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The trend appears to be driven largely by domestic institutional investors rotating out of expensive mid and small-cap stocks and into more attractively valued large caps that offer a better risk-reward profile, he added.
Brent crude, the global oil benchmark, climbed 1.79 per cent to $85.52 per barrel.
Global Cues and Investor Sentiment
"Indian equity markets ended the week on a strong note, extending their recovery as broad-based buying in heavyweight banking, financial, and IT stocks helped benchmark indices outperform weak global cues.
"Investor sentiment remained resilient despite persistent concerns over elevated AI valuations, ongoing geopolitical tensions in the Middle East, and heightened volatility in global markets," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Expectations of healthy quarterly earnings from index heavyweights, including Reliance Industries and leading private sector banks, further supported the positive momentum, he added.
In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index ended significantly lower. Markets in South Korea were closed on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,205.56 crore on Thursday, according to exchange data.
Stocks in this story
Blue Chip India₹2.13▲ 0.00%
Key takeaways
- Concerns Blue Chip India (BLUECHIP).
- Category: Stocks.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development for Blue Chip India and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
