D-Street Heat Map: Sensex Gains, Nifty IT Jumps 2%, India VIX Plunges 7%

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D-Street Heat Map: Sensex Gains, Nifty IT Jumps 2%, India VIX Plunges 7%
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Leading Indian stock indices made a strong opening on Friday, following a risk rally in the overnight Wall Street session as banking heavyweights like JP Morgan Chase (NYSE: JPM ) and Morgan Stanley (NYSE: MS ) stepped in to rescue the embattled First Republic Bank.

However, domestic benchmark indices lost their early shine and gave up gains, then rising again later in the session. Nifty50 rose 0.45% to 17,061.95 levels while writing and Sensex gained 212.3 points or 0.37%.

The market fear barometer India VIX fell almost 7% to 15.1 levels on Friday.

Gains on Dalal Street were led majorly by IT and consumer durable stocks, while auto stocks exerted pressure.

Sectoral indices under the Nifty umbrella traded mixed, with a strong downtick posted by Nifty Media and Nifty Auto followed. 

However, Nifty IT surged 2% with only Mphasis (NS: MBFL ) on the 10-scrip index trading in the red, Nifty Realty rallied 2.4% and Nifty Metal jumped too. Nifty Bank traded flat.

Heavyweights Infosys (NS: INFY ), HCL Tech (NS: HCLT ), Coal India (NS: COAL ), HDFC Life, UltraTech, LT and UPL (NS: UPLL ) led the gains on Nifty, while ITC, Maruti (NS: MRTI ), Eicher Motors (NS: EICH ), Adani Ports, Sun Pharma (NS: SUN ) and Hero Moto were the top losers.

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