Indian Equity Markets Rally on Broad-Based Gains; TCS Slips Post-Q2 Results

Indian equity markets surged sharply today, driven by robust gains in realty, PSU banking, and pharmaceutical sectors. The Sensex climbed over 540 points intraday, settling 0.55% higher at 82,620.36, while the Nifty 50 ROSE 0.53% to 25,315.80. Smallcap stocks outperformed midcaps, with only IT and metal sectors lagging.

Renewed foreign inflows, upbeat earnings expectations, and strong domestic demand fueled investor optimism. Realty and PSU Bank indices led the charge, each gaining nearly 2%, while metal and IT sectors faced downward pressure. Cipla, State Bank of India, and Axis Bank emerged as top performers, whereas Tata Steel and TCS dragged on the index.

TCS shares declined following its Q2 results, reflecting broader weakness in the IT sector. Market participants now await earnings announcements from Waaree Renewable Tech and Elecon Engineering later today.