Indian shares rise on TCS boost; snap weekly winning run on Mideast worries
- Nifty 50 rose 1.02% to 24,206.90, while the Sensex climbed 1.08% to 77,569.39, to pare their weekly losses to 0.3% each
Indian shares rose on Friday, helping benchmarks trim weekly losses, as softer crude prices and a weaker dollar aided sentiment, while TCS’s better-than-expected results lifted IT stocks.
The Nifty 50 rose 1.02% to 24,206.90, while the Sensex climbed 1.08% to 77,569.39, to pare their weekly losses to 0.3% each, after a mid-week slide triggered by a flare-up in U.S.-Iran tensions and a spike in crude prices.
The benchmark indexes snapped a four-week winning run, their longest in 2026 so far.
“Frontline indexes opened the final session with a strong gap-up and held gains as IT stocks rebounded on TCS’s results and management commentary,” said Sudeep Shah, head of technical and derivatives research at SBI Securities.
IT index rose 2% on Friday, led by TCS, which gained 1% after a quarterly revenue beat and rising AI-linked sales boosted sector recovery hopes.
Brent crude edged down to $76, extending Thursday’s 2.2% fall, but was set for a weekly gain after U.S.-Iran strikes and U.S. President Trump’s comment that the temporary peace deal with Iran was “over” comment.
However, sentiment improved after a U.S. official said that technical talks were continuing.
Metals rose 1.5%, tracking a softer dollar and firm global prices amid geopolitical uncertainty.
As domestic earnings season unfolds, the biggest upside risk could come from revenue growth, supported by healthy demand, strong credit expansion, rising GST collections and resilient nominal GDP, J.P. Morgan analysts led by Rajiv Batra said.
They also reiterated their year-end Nifty target of 27,000, implying 11.5% upside from Friday’s close.
Nine of 16 major sectors logged weekly losses. The broader mid-caps and small-caps rose 1.4% and 1.3%.
Dr Reddy’s fell 9.5% this week, its worst in three years, after flagging semaglutide supply disruptions.
Trent fell 13.1% after its June-quarter revenue projection missed analysts’ expectations.
Consumer durables jumped 3.7%, led by Titan on upbeat quarterly update.
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