Late rally: Sensex jumps 1,110 points, Nifty over 22,700: 5 factors behind market rise; these stocks rebound after UPI

What happened: Indian equities rallied as technology stocks led gains after HCL Technologies' upbeat September-quarter results. The Nifty 50 rose 1.60% to 22,721 and the Sensex closed at 73,033, up 1.54%. Key numbers: Nifty 50 +1.60% to 22,721. Why it matters: Analysts cited HCLTech's AI-related revenue and deal wins as bolstering confidence in the sector's earnings outlook, with TCS, Infosys and Tech Mahindra joining the advance. Finance Minister Nirmala Sitharaman's willingness to hear views on the securities transaction tax raised hopes of a possible reassessment of the levy.

Indian equities rallied as technology stocks led gains after HCL Technologies' upbeat September-quarter results. The Nifty 50 rose 1.60% to 22,721 and the Sensex closed at 73,033, up 1.54%.

Analysts cited HCLTech's AI-related revenue and deal wins as bolstering confidence in the sector's earnings outlook, with TCS, Infosys and Tech Mahindra joining the advance. Finance Minister Nirmala Sitharaman's willingness to hear views on the securities transaction tax raised hopes of a possible reassessment of the levy.