Sensex, Nifty Rally Led By IT Stocks

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Sensex, Nifty Rally Led By IT Stocks

(RTTNews) - Indian shares posted strong gains on Friday, helped by a sharp rally in IT stocks.

Infosys reported inline results and TCS's results beat estimates, helping investors shrug off a rally in oil prices and diminished expectations for a Fed rate cut in March.

The benchmark S&P BSE Sensex hit a record high of 72,720.96 before closing up 847.27 points, or 1.18 percent, at 72,568.45.

The broader NSE Nifty index settled higher by 247.35 points, or 1.14 percent, at 21,894.55 after having hit a record high of 21,928.25 earlier in the session.

Infosys jumped more than 8 percent after reporting better-than-expected earnings for the third quarter of FY24.

TCS rallied 3.9 percent after reporting a marginal rise in consolidated net profit for the December quarter.

Wipro surged 4 percent and HCL Technologies climbed 4.7 percent ahead of their earnings results later in the day.

Among other prominent gainers, LTIMindTree, Tech Mahindra and ONGC jumped 5-6 percent.

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