Stock market today: Sensex opens 349 points higher, Nifty gains 0.38%; IT stocks rally

The Indian indices continued its rally on Friday, with Sensex opening 349 points higher and Nifty up by 90 points.

In the early trade, Sensex was trading at 77,535.92, up by 0.45 per cent, while Nifty was trading up by 0.38 percent at 24,163.60.

The Sensex portal showed 22 out of 30 stocks trading in green. The rally was led by Tech Mahindra, Infosys, HCL Tech, TCS, Reliance and Axis Bank. Tech Mahindra jumped 3 per cent after the IT company reported a 28.4 per cent rise in consolidated net profit for the June quarter.

The BSE IT index was trading 1.25 per cent higher at 28,189.45. Meanwhile, the laggards include Trent, Sun Pharma, IndiGo, Bharti Airtel and ITC.