Mumbai, Jul 10 (PTI) Stock market benchmark indices Sensex and Nifty ended 1 per cent higher on Friday, extending gains for the second day, aided by a rally in heavyweights Reliance Industries, ICICI Bank and HDFC Bank, and positive global cues.

Easing crude oil prices and buying in IT stocks after TCS reported an increase in its June-quarter net profit and guided towards an improvement in demand returning in the ongoing quarter also propelled the rally in the domestic market.

The 30-share BSE Sensex jumped 827.57 points, or 1.08 per cent, to settle at 77,569.39. During the day, it soared 900.41 points, or 1.17 per cent, to 77,642.23.

The 50-share NSE Nifty surged 244.10 points, or 1.02 per cent, to end at 24,206.90.

From the Sensex pack, Reliance Industries, Tech Mahindra, Bharat Electronics, Axis Bank, Tata Steel and Infosys were among the major winners.

TCS ended 1 per cent higher after the country's largest IT services company on Thursday reported a 4.61 per cent increase in its Q1FY27 net profit to Rs 13,349 crore, and guided towards an improvement in demand impacted by the West Asia crisis, returning in the ongoing quarter.

The laggards from the blue-chip pack were Eternal, Bharti Airtel, Sun Pharma and Trent.

"The positive undertone was primarily driven by a steady start to the Q1 earnings season, with TCS' in-line results relieving the participants. Besides, continued softness in crude oil prices and stability in the rupee further supported investor confidence. However, participants remained watchful of the developments on the geopolitical front and performance of world markets, which could influence market direction in the coming sessions," Ajit Mishra, SVP – Research, Religare Broking Ltd, said.

Brent crude, the global oil benchmark, dipped 0.30 per cent to USD 76.07 per barrel.

The BSE MidCap Select index jumped 1.74 per cent and the SmallCap Select index climbed 1.03 per cent.

All sectors ended in positive territory. Realty surged 3.40 per cent, PSU Bank 3.26 per cent, MidSmall Private Banks Quality Tilt 2.56 per cent, Focused IT 2.29 per cent, Information Technology 2.01 per cent, Metal 1.55 per cent and Services 1.50 per cent.

A total of 2,883 stocks advanced, while 1,377 declined and 174 remained unchanged on the BSE.

On the weekly front, the BSE benchmark declined 194.52 points, or 0.25 per cent, and the Nifty dipped 63.95 points, or 0.26 per cent.

"Indian equity markets extended their recovery for a second consecutive session following the sharp sell-off triggered by renewed tensions in the Middle East, with broad-based buying interest supporting the rally," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.

Better-than-expected earnings from Tata Consultancy Services (TCS) lifted sentiment across the IT sector, while strong buying interest in banking and realty stocks, along with gains in metals, oil & gas, and defence shares, further underpinned the market's upward momentum, he added.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 532.86 crore on Thursday, according to exchange data.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Hong Kong's Hang Seng index ended higher, while Shanghai's SSE Composite index settled lower.

Markets in Europe were trading on a mixed note.

US markets ended higher on Thursday.

On Thursday, the Sensex climbed 238.22 points, or 0.31 per cent, to settle at 76,741.82. The Nifty went up by 80.75 points, or 0.34 per cent, to end at 23,962.80. SHM

Equity market rally gains strength as IT earnings, easing crude prices and banking stocks lift sentiment across sectors. Indian equity markets extended gains for a second straight session, closing higher on broad-based buying led by information technology, banking and realty stocks. Sentiment improved on easing crude oil prices, positive global cues, stability in the rupee and better-than-expected quarterly results from TCS, which lifted confidence in the IT sector and improved demand outlook. All sectoral indices ended in positive territory, while market breadth remained positive despite continued foreign institutional investor selling.