A sharp rally in IT stocks powered the Sensex to close above the 66,000 mark for the first time ever on Friday.
IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points.
Among IT heavyweights, TCS was up 5.1 per cent, Tech Mahindra was up 4.4 per cent, while Infosys was up 4.4 per cent.
HCL Tech was up 3.8 per cent, while Wipro was up 2.6 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, said that controlled inflation in the US has instilled optimism among the investors that a 25 bps rate hike will be adequate to stabilise the US economy. This improved prospect has contributed to the strong buying of Indian IT stocks despite muted Q1 earnings.
Also, the broad-based rally in the domestic market was supported by India's consecutive third-month decrease in wholesale prices, along with the positive involvement of FIIs, he said.
هذه القصة مأخوذة من طبعة July 15, 2023 من The Statesman.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 15, 2023 من The Statesman.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
King is back in his territory: Shastri backs Kohli to beat slump in Australia
Former Team India coach Ravi Shastri feels star batter will return to form during Test series Down Under
India aim to overcome KL Rahul's injury scare ahead of BGT series
Star batter KL Rahul was forced to retire hurt after being hit by a rising delivery from Prasidh Krishna during the team's intra-squad match simulation at the WACA in Perth on Friday.
Bengal coach Shukla hails pacer Shami's 'fairy tale' return to competitive cricket
Bengal coach Laxmi Ratan Shukla was amazed at the seamless return of star quick Mohammed Shami in competitive cricket after nearly 12 months and believed that the experienced right-armer would only get better as he got more cricket under his belt.
Pant bowled twice, no signs of discomfort by Kohli
India's intra-squad match simulation provided a mix of positives and concerns ahead of the Border-Gavaskar series opener against Australia in Perth.
World Cup qualifiers: Argentina lose to Paraguay, Brazil stumble in Venezuela
Reigning champions and five-time winners suffer shock reversals to leave South American qualifying group wide open
No regrets about leaving Man United, says Scott McTominay
Scott McTominay, the defensive midfielder who has been with Manchester United since the age of five, left his boyhood club for Napoli in a move reported to be worth 27.5 million Pounds.
PKL Season 11: Pressure is nothing but talk, asserts Dabang Delhi star Ashu Malik after strong start to second leg
Fresh off becoming the first raider to complete 100 raid points in PKL Season 11, Dabang Delhi K.C.'s star raider Ashu Malik shared insights into his remarkable journey and mindset.
Prajnesh Gunneswaran hangs up his racquet, announces retirement
Indian tennis player Prajnesh Gunneswaran, who once reached a career-high ATP ranking of No. 75, announced his retirement from professional tennis on Friday.
India vs Malaysia preview: Blue Tigers face big challenge, eye positive end to 2024
The India-Malaysia football rivalry goes a long way back.
Van Nistelrooy bids emotional farewell to Manchester United
Dutch football legend Ruud Van Nistelrooy, Manchester United's interim head coach who has now departed from the club upon the arrival of Ruben Amorim, took to social media on Friday to thank the club for giving him the opportunity.
