Stock market end in green; Sensex surges 964.58 points, Nifty 261.55 points

After a muted trade on Thursday the Indian stock market rebounded on Friday with the Sensex soaring 96458 points and the Nifty gaining 26155 points driven by improved investor sentiment amid higher earnings expectations for the June quarterThe 30share BSE Sensex gained 125 per cent to settle at 7815145 During the day it jumped 109568 points or 141 per cent to 7828255 The 50share NSE Nifty rose 109 per cent to end at 2433430Who led the packTech Mahindra shares on the Sensex rose 391 per cent after the company reported a 284 per cent increase in consolidated net profit for the June quarter to Rs 1465 crore Shares of Reliance Industries which is scheduled to announce its June quarter earnings later today gained 259 per cent after the company said its promoter group had increased its stake to 5048 per centldquoInvestor sentiment remained upbeat ahead of the upcoming quarterly earnings of index heavyweights over the weekend with market participants preferring largecap stocks amid expectations of healthy corporate earningsrdquo Bajaj Broking Research saidKotak Mahindra Bank Tata Consultancy Services Reliance Industries Hindustan Unilever Mahindra amp Mahindra Axis Bank ICICI Bank and Bajaj Finance were among the other gainers on the 30share indexldquoPrivate Banks remained in focus supported by expectations that the RBIs special overseas deposit scheme could attract around USD 30 billion from NonResident Indians NRIs strengthening foreign exchange reserves and supporting rupee stabilityrdquo Siddhartha Khemka Head of Research Wealth Management Motilal Oswal Financial Services saidSun Pharma Trent Bharti Airtel and UltraTech Cement were among the laggards on the Sensex On the Nifty Tech Mahindra Kotak Mahindra Bank Jio Financial Services TCS and ICICI Bank were the top gainers while Hindalco Dr Reddys Wipro Sun Pharma and Apollo Hospitals were among the laggardsThere is a shift in market momentum with strong traction moving toward largecap stocks led by the IT and banking sectors This is supported by optimism around business updates and Q1 earnings expectations Vinod Nair Head of Research Geojit Investments Limited saidBuying trend is emerging in consumer durables on expectations of healthy domestic demand in second half the financial year 2027 he addedGlobal scenarioThe global oil benchmark Brent crude climbed 179 per cent to USD 8552 per barrel Meanwhile Foreign Institutional Investors FIIs offloaded equities worth Rs 420556 crore on Thursday according to PTI Japans Nikkei 225 index and Hong Kongs Hang Seng index ended significantly lower in Asian tradingWith inputs from PTI