CosmicTaco

IT Stocks Lead Rise in India's Nifty 50 to Record Highs

CosmicTaco · 2024-07-15T16:34:01.314804+05:30

- India's Nifty 50 index rose to record highs on Monday, driven by strong performance in the IT sector. - The NSE Nifty 50 climbed 0.4% to a record high of 24,598, while the S&P BSE Sensex added 0.2% to 80,654 points. - Strong buying in IT stocks, particularly after TCS's positive results, provided a significant boost to the market. - HCLTech saw a 3.5% rise in shares after reporting increased revenue and growth projections for the ongoing quarter. - Indian IT companies have benefited from expectations of a U.S. rate cut, with the odds of a 25 basis point cut rising to 90%. Source: Reuters

India's Nifty 50 index rose to record highs on Monday, driven by strong performance in the IT sector.
The NSE Nifty 50 climbed 0.4% to a record high of 24,598, while the S&P BSE Sensex added 0.2% to 80,654 points.
Strong buying in IT stocks, particularly after TCS's positive results, provided a significant boost to the market.
HCLTech saw a 3.5% rise in shares after reporting increased revenue and growth projections for the ongoing quarter.
Indian IT companies have benefited from expectations of a U.S. rate cut, with the odds of a 25 basis point cut rising to 90%.

Source: Reuters