Indian Shares Rally After Trump's Remarks About Iran; IT Stocks Lead
(RTTNews) - Indian shares were notably higher in early trade on Friday after U.S. President Donald Trump ruled out attacking Iran before the U.S. midterm elections on November 3, asserting that record volumes of crude were currently passing through the Strait of Hormuz.
The benchmark 30-share BSE Sensex surged 621 points, or 0.9 percent, to 72,207, while the NSE Nifty index was up 227 points, or a little over 1 percent, at 22,461.
Information technology stocks traded higher, with TCS surging nearly 5 percent after delivering a 15 percent year-on-year increase in Q2 consolidated net profit.
Peers HCL Technologies, Tech Mahindra, Mphasis, Tata Elxsi, Wipro and Infosys rallied 2-3 percent after the Nasdaq posted its biggest single-day loss since mid-August on fresh concerns over the sustainability of the AI spending boom.
Among other prominent gainers, NTPC, HDFC Bank, SBI, Power Grid Corp, ITC and Adani Ports climbed 1-3 percent.
NCC jumped 4 percent on bagging an order worth Rs. 1,286 crore from Hyderabad Growth Corridor.
KEC International added 1.3 percent on securing new orders worth Rs 1,030 crore. Novartis India dropped 1.3 percent on fund raising reports.
Australian Market Extends Early Gains In Mid-market
Asian Markets Trade Mixed
Indian Shares Seeking Rebound With IT Stocks In Focus
Japanese Market Significantly Lower
Australian Market Notably Higher
TSX Modestly Higher As Energy Stocks Rise
Swiss Stocks Fall As Oil's Rise Triggers Inflation Worries
