India’s blue-chip indexes, Nifty and Sensex hit fresh all-time highs today, led by gains in IT services firms after their results and commentary exceeded expectations, alleviating concerns about weak demand.
The NSE Nifty 50 added 0.81 per cent to 22,072.90 points, while the S&P BSE Sensex climbed 0.92 per cent to 73235.60, as of 9:31 am.
Shares of IT services providers Wipro and HCLTech rose 10% and 4% respectively after their third-quarter results showed signs of demand stabilization and growth.
HCLTech, the third-largest IT services provider, and fourth-ranked Wipro both surpassed quarterly revenue expectations.
Their rise also sent the Nifty IT index up 3.47%.
Meanwhile, Asian markets rose today as traders weighed US inflation data that revived hopes for an early interest rate cut, but gains were tempered by geopolitical worries after fresh US-UK strikes on Huthi targets in Yemen.