Indian markets bounce back as IT and banking lead gains
Business
The Indian stock market made a strong comeback this Friday, with Nifty rising 261.35 points to 22,493.15 at 13.05pm and Sensex climbing 806.08 points to 72,399.32 at 13.05pm.
IT and banking stocks led the charge, giving investors a much-needed breather after a tough week.
ITC up 4.33% TCS nearly 3.71%
ITC was up by 4.33%, and TCS gained nearly 3.71% after posting solid profits, making them Friday's top performers.
The Nifty IT sector shined brightest, while oil and gas lagged behind.
Still, there are some clouds: foreign investors have been pulling out funds this month, and the recent RBI rate hike plus high US yields are keeping market nerves on edge despite today's rally.