Sensex rises 493 points as Nifty tops 23,000

Infosys rose 3.40% and TCS gained 2.60%, helping drive the Nifty IT index up 2.03% to 32,155.35. HCL Tech, Tech Mahindra and other technology names also firmed, while Reliance Industries added 2.20% and UltraTech Cement climbed 2.20%, giving the broader market additional support. The sector rotation is notable because IT stocks often benefit when investors seek earnings visibility and global revenue exposure, especially when domestic risk appetite is patchy.

The rally also extended beyond technology. Nifty Oil & Gas rose 0.89%, Services 0.86%, Infrastructure 0.67% and realty 0.50%, while PSU banks and private banks posted smaller gains. That mix suggests the market was not trading on one isolated theme, but on a general relief bid after recent consolidation. Bajaj Finance fell 2.73%, however, underscoring that the advance was not uniform and that some high-beta financial names remain under pressure.

For index investors, the Nifty’s return above 23,000 is psychologically important, even if it does not by itself confirm a durable trend. The Sensex and Nifty had been losing momentum in prior sessions, and the rebound points to a market still willing to buy dips in leaders rather than de-risk aggressively. That typically favors passive flows and large-cap funds over smaller, more speculative names.

The question now is whether the IT-led bounce can broaden into a sustained recovery. If global risk appetite steadies and foreign investors continue to favor India’s earnings stability, the market could see follow-through in large caps. If not, today’s gains may prove to be another short covering and value-buying episode in a market still searching for a stronger catalyst.