Indian shares open higher as IT stocks gain
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
BENGALURU - Indian shares recovered from previous session's losses to trade higher on Friday, fuelled by gains in information technology stocks and strength in broader Asian markets.
The blue-chip NSE Nifty 50 index rose 0.31% to 15,738.60 and the benchmark S&P BSE Sensex climbed 0.34% to 52,516.22 by 0349 GMT.
The Nifty 50 and Sensex are set for their first weekly fall in five, after shedding 0.68% and 0.29%, respectively, as of Thursday's close. The U.S. Federal Reserve's indication that it would raise interest rates sooner than expected has weighed on the markets.
Software services firms Infosys Ltd and Tata Consultancy Services Ltd, and conglomerate Reliance Industries Ltd were among the top boosts on the Nifty 50, gaining between 0.8% and 1%. Shares of Reliance have gained in the last five trading sessions out of eight.
The Nifty IT index was up 0.93%. For the week so far, including Friday's gain, it is up 2.4%.
(Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)
