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Sensex Surges 776 Points, Nifty Closes Near 24,000 as IT Stocks Rally

Published July 27, 2026 at 10:33 AM UTC

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Indian stock markets rallied sharply on Thursday, with the BSE Sensex jumping 776 points and the NSE Nifty ending just below the 24,000 mark. The surge was led by information technology (IT) stocks, which gained on hopes of strong earnings and resilient demand from the US and European markets. The rally came after a period of consolidation, with investors brushing aside concerns over global interest rates and focusing on domestic economic strength. The Sensex closed at 78,876, while the Nifty settled at 23,992, its highest in recent weeks. Market breadth was positive, with advances outpacing declines. The rally was broad-based, with banking, auto, and metal stocks also contributing. Analysts attributed the move to short-covering ahead of the monthly derivatives expiry and optimism over the upcoming corporate earnings season. Foreign portfolio investors were net buyers, adding to the positive sentiment. The surge brings the benchmark indices close to their all-time highs, raising hopes of a sustained uptrend. However, traders remain cautious about global cues, including the Federal Reserve's rate stance and geopolitical tensions. For retail investors, the rally offers a chance to rebalance portfolios, but experts advise staying focused on long-term goals.