BENGALURU: Info-rmation technology stocks lifted Indian benchmark indexes on Friday as an improvement in economic growth in the US, a key market for the sector, boosted sentiment. Both the benchmarks added 1.24% and 0.9% for the week, posting eighth week of gains. The NSE Nifty 50 rose 1.76% to 24,834.85, while the S&P BSE Sensex gained 1.62% to 81,332.72, logging their best session in seven weeks.
The Nifty also hit a record high in the final minute of the trading session. Both Nifty and Sensex had logged losses for the last five sessions, weighed down by weaker-than-expected results from Reliance Industries, Wipro, Bajaj Finance, Axis Bank and Nestle. The union budget on Tuesday, in which tax hikes on capital gains in equity investments and derivatives trading were announced, also had a negative, but short-term impact on the market, analysts said.
Comments
Comments are closed for this article.