Opening Bell: Sensex, Nifty gain in early trade as IT stocks rally on Infosys boost

Indian equity benchmarks built on early gains on Friday, with the Sensex and Nifty trading higher as buying interest strengthened through the morning session. IT stocks led the advance, supported by positive earnings-related sentiment, though investors remained cautious about the durability of the move amid ongoing foreign fund outflows and the absence of strong macroeconomic cues.

The rebound followed a volatile session on January 14, when markets ended lower as participants waited for a much-anticipated US Supreme Court decision on President Donald Trump’s tariff actions, which ultimately did not come through. With that uncertainty fading, focus has shifted back to corporate earnings and stock-specific developments.

Technology stocks dominated early trade after Infosys jumped nearly 5 percent on a solid Q3 FY26 performance, healthy deal wins and an improved revenue growth forecast. Gains extended to Wipro, Tech Mahindra and HCL Technologies, lifting the Nifty IT index close to 3 percent. Realty and PSU banks also saw buying interest, while pharma and metal stocks lagged.

Overseas cues were supportive, with Wall Street rising overnight on strong bank earnings and upbeat results from TSMC, reinforcing confidence in AI-led growth. Asian markets were mixed but headed for their longest weekly winning streak since May, driven largely by technology shares.

Despite the positive tone, analysts warned the market remains range-bound. Kotak Securities’ Shrikant Chouhan said resistance lies near 25,800–25,900, with firm support around 25,600, suggesting traders are waiting for a clear breakout. Geojit’s VK Vijayakumar echoed the cautious view, noting that persistent foreign selling is likely to cap rallies, leaving earnings-led stock moves to dominate. Foreign investors sold about ₹4,781 crore worth of equities on January 14, while domestic institutions offset this with net buying of roughly ₹5,217 crore. The India VIX eased, but analysts say a decisive trend will emerge only if the Nifty breaks out of its current consolidation band.