Global Markets
Home›Global Markets›India›Indian stocks rally as Nifty and Sensex gain more than…
Indian stocks rally as Nifty and Sensex gain more than 1.5%
The Nifty IT index surged 5.2% after HCLTech jumped 8.4% on better-than-expected results.
Indian equity benchmarks rallied on Tuesday, Oct. 13, with the Nifty 50 rising 1.6% to close at 22,721.95 and the BSE Sensex gaining 1.54% to 73,033.78, as information technology stocks led the move, LiveMint Markets reported.
The surge in IT followed HCLTech delivering better-than-expected results, with the company shares jumping 8.4%, its sharpest daily percentage gain in more than six years. HCLTech’s quarterly results beat estimates, supported by an improvement in profitability metrics, according to the report.
The Indian rupee also strengthened to 95.28 against the US dollar for a second consecutive session, extending its recovery after the Reserve Bank of India announced measures aimed at easing pressure on the currency, LiveMint Markets said.
ICICI Securities analyst Jay Thakkar recommended futures trades in Mahindra & Mahindra, Shree Cement, and Cholamandalam Investment, the outlet added, with the focus on the F&O segment.
Latest closeSensex 72,638.70 ▼0.6%