Sensex rises 308.49 points, Nifty crosses 23,050, IT, pharma lead
Business
The Indian stock market wrapped up Friday on a positive note, with the Sensex jumping 308.49 points to 74,459.53 and Nifty crossing 23,050.
IT and pharma stocks led the rally, gaining 2.16% and 1.67%.
Investors cautious, IMF recommends rupee flexibility
Even with these gains, investors stayed a bit cautious thanks to high oil prices (around $113 a barrel) and global tensions.
Some sectors like media and auto slipped, while the rupee saw a slight boost against the dollar.
The IMF also suggested greater rupee flexibility as the first line of defense against energy-related shocks.