Indian Shares Extend Gains For Second Day
(RTTNews) - Indian shares rose for a second consecutive session on Friday, with information technology stocks leading the surge as disappointing tech earnings fueled a rotation out of the artificial intelligence trade globally.
There was a sell-off across the AI value chain globally after Google parent Alphabet burnt through cash last quarter, Amazon signaled higher capital expenditures next year atop an already huge amount in 2026, and Intel warned about a faltering PC market.
The broader market, however, remained under pressure due to concerns over rising crude oil prices and expectations of a Federal Reserve interest-rate rise in December.
Adding to the risk-off tone, Binance, the world's largest crypto exchange, has frozen digital assets worth around $3bn (£2.24bn) as it investigates a "potential security issue."
The 30-share BSE Sensex closed up 308.49 points, or 0.42 percent, at 74,459.53 while the NSE Nifty index rose 116.35 points, or 0.51 percent, to 23,053.10.
The BSE mid-cap and small-cap indexes fell 0.9 percent and 2.1 percent, respectively. The market breadth was weak on the BSE, with 2,937 shares falling while 1,414 shares rose and 215 shares closed unchanged.
Among the top gainers, Trent soared 5.2 percent and InterGlobe Aviation surged 4.1 percent after posting better-than-expected quarterly earnings results.
Eternal, Power Grid Corp, NTPC and Infosys rallied 2-3 percent.
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