Indian stocks rise Thursday on IT rally and foreign buying

Indian stock markets extended their gains into Thursday morning, building on a sharp rally the previous day, as information technology stocks continued to advance and foreign investors remained net buyers. The benchmark BSE Sensex rose 75.71 points to 77,726.62 in early trade on July 30, while the NSE Nifty gained 26.90 points to 24,275.85.

This positive momentum followed a significant rebound on Wednesday, July 29, when the Sensex surged 888.68 points, or 1.16 percent, to close at 77,654.60. The Nifty climbed 264.85 points, or 1.10 percent, to settle at 24,250.20. The rally was driven by strong buying in IT stocks, HDFC Bank, and other major companies, supported by fresh foreign institutional investment and a strengthening rupee.

Key gainers from the Sensex pack included Infosys, Tech Mahindra, HCL Tech, Tata Consultancy Services, and Sun Pharma. The broader market also saw positive momentum, with buying interest across several sectors. Market analysts attributed the rally to resilient domestic fundamentals, including strong corporate earnings, which helped outweigh mixed global cues. Foreign Institutional Investors turned net buyers on Tuesday, purchasing equities worth 755.33...