5 days ago
Indian Stocks Rise at Noon as IT Shares Support Markets
Indian stock markets were slightly higher on Friday afternoon.
The Sensex and Nifty both gained a small amount.
Technology companies helped push the markets upward.
Shares of Tech Mahindra, Tata Consultancy Services and Infosys were among the stronger performers.
The technology-focused Nifty IT index rose more than 1 per cent.
Private banks and financial services companies faced pressure.
Investors were waiting for comments from Kevin Warsh about future US interest rates.
They were also watching oil prices and uncertainty around the Strait of Hormuz.
The BSE Sensex rose 193.02 points, or 0.25 per cent, to 77,126.61 around 12:30 pm.
The NSE Nifty 50 gained 33.80 points, or 0.14 per cent, to 24,124.65.
Technology stocks, including Tech Mahindra, Tata Consultancy Services and Infosys, led the gains.
The Nifty IT index advanced more than 1 per cent, while private banks and financial services stocks declined.
Investors watched Kevin Warsh’s speech and Brent crude prices above $89 per barrel amid Strait of Hormuz uncertainty.
- Who
- Indian equity benchmarks, technology stocks and investors.
- What
- The Sensex and Nifty traded higher, supported mainly by information technology shares.
- Where
- Indian markets, including the BSE and NSE, in Mumbai.
- When
- Friday, August 28, with market data reported around 12:30 pm.
- Why
- Buying in IT stocks supported sentiment, while investors also monitored US interest-rate signals, oil prices and Strait of Hormuz uncertainty.
Key facts
- Sensex level
- 77,126.61 around 12:30 pm
- Sensex move
- Up 193.02 points, or 0.25 per cent
- Nifty 50 level
- 24,124.65
- Nifty 50 move
- Up 33.80 points, or 0.14 per cent
- Top-performing sector
- Nifty IT rose more than 1 per cent
- Brent crude
- Trading above $89 per barrel
- Previous session
- Sensex fell 539.35 points and Nifty declined 116.90 points on Thursday
Sources
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