Mumbai: Indian equity indices rose over 1% on Friday, led by information technology stocks after Tata Consultancy Services' June-quarter earnings met market expectations, easing concerns over a weak earnings season for the sector. The benchmark indices, however, ended the week marginally lower, snapping a four-week winning streak, as renewed tensions in West Asia earlier in the week kept investor optimism in check. The NSE Nifty 50 rose 244.1 points, or 1%, to close at 24,206.9 on Friday, while the BSE Sensex gained 827.57 points, or 1.1%, to end at 77,569.39. Both indices ended the week nearly 0.3% lower. Brent crude futures traded above $76 a barrel on Friday evening after spiking to around $80 on Wednesday.
IT rally powers markets over 1%; Sensex, Nifty end week with marginal losses
Indian equity indices saw a rise on Friday, boosted by information technology stocks. Tata Consultancy Services' earnings met expectations, easing sector concerns which helped the market. The benchmark indices, however, finished the week marginally lower, ending a winning streak. Renewed West Asia tensions kept investor optimism in check earlier in the week. Brent crude futures traded above $76 a barrel on Friday evening.
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