SENSEX rises over 500 points, NIFTY50 above 24,200 led by auto, IT shares

The Indian equity benchmarks moved higher on Friday, July 16, defying weak cues from other Asian markets led by gains in auto and information technology shares.

The SENSEX rose as much as 532 points and NIFTY50 index touched an intraday high of 24,220 powered by buying interest in index heavyweights like Reliance Industries, Infosys, HDFC Bank, ICICI Bank, Mahindra & Mahindra, Tata Consultancy Services and Tech Mahindra.

As of 9:31 am, the SENSEX rose 515 points to 77,702 and NIFTY50 index advanced 132 points to 24,205.

Japan's Nikkei dropped 4.86%, China's Shanghai Composite plunged 1.64% and Hong Kong's Hang Seng tumbled 2.11%.

Back home, nine of 15 sector gauges compiled by the National Stock Exchange (NSE) were trading higher led by the NIFTY IT index's 1.6% gain. NIFTY Auto, Bank, Financial Services, PSU Bank, Private Bank and Oil & Gas indices also rose between 0.2% and 0.8%.

On the flip side, metal, pharma, realty, healthcare and consumer durable shares were witnessing selling pressure.

Broader markets were trading on a subdued noted as NIFTY Midcap 100 index fell 0.3% and NIFTY Smallcap 100 index dropped 0.64%.

Its revenue from operations jumped 227.45% YoY to ₹2,004 crore in the quarter ended June 30, 2026, as against ₹612 crore in corresponding period of the previous fiscal year.

HCL Technologies, Tech Mahindra, Reliance Industries, Infosys, Eicher Motors, Hindustan Unilever and TCS also rose between 1.26% and 2.8%.

On the other hand, Wipro, Dr Reddy's Labs, Cipla, Hindalco, Apollo Hospitals, Max Healthcare, Sun Pharma, Trent, Tata Consumer Products and Bharti Airtel were top losers in the NIFTY50 index.

The overall market breadth was negative as 1,813 shares were declining while 991 were advancing on the NSE.