Nifty, Sensex open higher, IT stocks jump 2.73% despite US action against outsourcing firms

Indian markets opened higher on Friday, with the Nifty 50 at 22,303.35 (+70.55 points, +0.32%) and the BSE Sensex at 71,747.82 (+154.5 points, +0.22%). Despite a U.S. decision to suspend some major IT outsourcing firms from the Permanent Labor Certification Program, buying interest pushed the Nifty IT index up 2.73% and many other NSE sector indices into positive territory. The U.S. move named companies including Cognizant, Infosys, Tata, Wipro, HCL and Capgemini, as well as Microsoft and Adobe. Analysts said the suspensions add uncertainty, potentially raising hiring and compliance costs and pressuring margins, while elevated crude oil prices and high U.S. bond yields kept broader sentiment cautious.