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Sensex, Nifty Reach Fresh Record Closing Highs Led By IT Stocks
(RTTNews) - Indian shares ended Friday's session notably higher, with IT stocks leading the surge.
The benchmark S&P BSE Sensex ended the session up 502.01 points, or 0.77 percent, at 66,060.90, marking a fresh record closing high.
The broader NSE Nifty index also closed at a fresh record high of 19,564.50, up 150.75 points, or 0.78 percent, from its previous close.
Among the top gainers, HCL Technologies, Tech Mahindra, Infosys and TCS jumped 4-5 percent.
Among those that fell, Power Grid Corp and HDFC Life ended down over 1 percent each.
Positive global cues and sharp plunges in the greenback and U.S. benchmark Treasury yields underpinned sentiment after U.S. producer inflation data on Thursday showed the smallest annual increase in prices in nearly three years, adding to bets the Fed could soon end its monetary tightening campaign.
Earlier, data on Wednesday showed U.S. consumer price inflation fell sharply to a two-year low of 3 percent in June.
Traders now expect the Federal Reserve to stop raising interest rates after an expected 25-basis point increase at the July 25-26 meeting.
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