Indian Sensex rebounds 879.09 points as it lifts Nifty
Indian stock markets made a strong comeback on Friday, October 9, after Thursday's sharp sell-off.
The Sensex jumped 879.09 points and the Nifty crossed the 22,500 mark, thanks mostly to a surge in IT stocks, even as worries about rising oil prices and foreign investors pulling out continued.
TCS plans 15,000 US hires
IT heavyweights like TCS, Infosys, and Wipro drove the rally, with the Nifty IT index up 3.02%.
TCS reassured investors that its US operations won't be hit much by recent green card policy changes and announced plans to hire 15,000 more people in the US over five years.
A solid profit jump from TCS also boosted confidence.
Meanwhile, midcap and small-cap stocks saw modest gains too, but foreign investors are still selling off Indian shares, raising questions about how long this momentum can last.