Indian markets extend 4 weeks of gains as crude falls
Indian stock markets wrapped up Friday on a positive note, making it four weeks in a row of gains.
Sensex jumped 261.79 points to close at 77,763.91, and Nifty added 95.15 points to finish at 24,270.85.
The over 1% weekly boost came thanks to easing global worries and cheaper crude oil.
HCL Tech lands $1.14B deal
Tech shares were the stars this week: Nifty IT Index surged over 1.5%, with HCL Tech making headlines after landing a $1.14 billion deal.
Metal and pharma stocks also saw solid gains; Sun Pharma, Tata Consultancy Services, and ICICI Bank performed well.
On the flip side, Axis Bank, SBI, and Mahindra & Mahindra lagged behind.
Geojit's Vinod Nair cites global cues
Vinod Nair from Geojit Investments Ltd (Head of Research) shared that positive global cues and hopes for supportive rate policies kept the momentum going.
He noted continued recovery in the IT sector as a key driver.
Looking ahead, analysts will be watching global rate expectations, earnings, and macro fundamentals to see how things shape up.