Sensex climbs 510 points as Indian markets rally on IT
Business
Indian stock markets had another strong day, with the Sensex climbing 510 points to close at 74,617 and the Nifty up 155 points at 23,124.
The big push came from IT companies (Wipro jumped more than 3%) while tech overall kept spirits high.
JPMorgan upgrades lift Hindalco, Vedanta
Metal stocks like Hindalco and Vedanta got a boost after JPMorgan upgrades, and Fortis Healthcare soared nearly 4% thanks to IHH Healthcare planning a bigger stake.
Pharma player Alembic rose on US Food and Drug Administration approval news.
On the flip side, Jubilant FoodWorks dropped more than 10% after weak results, while Dr Reddy's slipped and IndiGo also slipped after Jefferies flagged airlines as among the most exposed to geopolitical risks.
The rupee edged up slightly as oil prices fell.