IT, auto stocks help Indian shares hit new highs

BENGALURU: Information technology (IT) and auto stocks helped India’s benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment.

The Nifty 50 rose as much as 1.21% to hit an all-time high of 19,201.70, before closing at 19,189.05. The S&P BSE Sensex also gained 1.26% to settle at a fresh record of 64,718.56.

The Nifty 50 has risen over 10.5% in the three months ended June 30, its best performance since the September quarter of 2021.

The benchmark also logged its best week in over 11 months and extended gains for the fourth month in a row.