5 days ago
Indian Benchmarks Rise as Technology Stocks Lead Gains
India’s main stock markets finished higher on Friday.
The Sensex and Nifty both gained after falling for two sessions.
Technology companies helped push the markets upward.
The Nifty IT index rose 3.5%.
TCS, Infosys, Tech Mahindra and HCL Technologies were among the biggest gainers.
Some consumer goods, energy and car companies did less well.
Smaller companies continued trading close to record-high levels.
High oil prices still made investors cautious.
Investors were also watching the Jackson Hole symposium for clues about interest rates.
The Sensex rose 330.92 points, or 0.43%, to close at 77,264.51.
The Nifty gained 84.80 points, or 0.35%, ending at 24,175.65.
The Nifty IT index climbed 3.5%, led by TCS, Infosys, Tech Mahindra and HCL Technologies.
FMCG, energy and auto stocks lagged, while metal and pharma shares performed strongly.
Brent crude stayed above $85 per barrel as investors awaited the Jackson Hole symposium.
- Who
- Indian equity benchmarks and companies, especially technology firms, were involved.
- What
- The Sensex and Nifty rose, led by gains in technology stocks.
- Where
- Mumbai, India.
- When
- Friday; investors were also watching the Jackson Hole symposium over the weekend.
- Why
- Technology stocks followed an overnight rally in U.S. technology shares, while Nvidia’s results supported optimism about global AI spending.
Key facts
- Sensex close
- 77,264.51, up 330.92 points or 0.43%
- Nifty close
- 24,175.65, up 84.80 points or 0.35%
- Top sector
- Nifty IT rose 3.5%
- Leading stock gains
- TCS rose 4.09%, Infosys 3.34%, Tech Mahindra 3.18% and HCL Technologies 2.68%
- Bank Nifty
- Ended at 57,496.30, down 0.02%
- Broader market
- Nifty Small Cap 100 gained 0.20%; Nifty Midcap 100 edged up 0.05%
- Investor concerns
- Brent crude remained above $85 per barrel, while markets awaited global monetary-policy signals
Sources
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