TCS’ Q2 earnings lift market sentiment, Nifty and Sensex rallies over 1% each

Aided by Tata Consultancy Services’ (TCS) September quarter earnings announcement, India’s equity market staged a strong recovery on Friday, after the massive plunge of Thursday, with the benchmark indices – NSE Nifty50 and BSE Sensex – gaining more than 1% each. Despite the recovery, local equities are likely to remain cautious as Brent crude remains above $100/bbl and foreign institutional investors (FIIs) continue to sell shares.

The Sensex closed 1.30% higher at 22,520.45 on Friday, while the Sensex gained 1.23% to close at 72,472. Much of the gain came from strong buying interest in the IT pack after behemoth TCS’s net profit grew 14.9% to Rs 13,884 crore in Q2FY27 while revenue grew 11% to Rs 73,188 crore, exceeding street estimates.