A sharp rally in IT stocks powered the Sensex to close above the 66,000-mark for the first time ever on Friday.
IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points.
Among IT heavyweights, TCS was up 5.1 per cent, Tech Mahindra was up 4.4 per cent, while Infosys was up 4.4 per cent.
HCL Tech was up 3.8 per cent, while Wipro was up 2.6 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, said that controlled inflation in the US has instill...
Sensex closes above 66K, Nifty touches new high intraday
Revenue in-line with expectations: TCS Q1FY24 revenue was in-line with our expectations. Rupee revenue came in at Rs 59,381cr, up by 0.4% QoQ and 12.6% YoY and revenue in USD was 7,226mn, up by 0.4% QoQ and 6.6% YoY. While growth in constant currency was flat QoQ and grew by 7% YoY. Amongst geographies, In terms of CC, the growth was mainly driven by the UK with 16.1% growth YoY followed by India, Latin America and Middle East with 14%, 13.5% and 15.2%, respectively. Amongst verticals, growth...
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The Nifty reached a new record high of 19,567 intraday on Thursday, but couldn't hold on due to selling pressure, resulting in a significant decline by the end of the day, said Rupak De, senior technical analyst at LKP Securities.
Vikram Kasat, head advisory, Prabhudas Lilladher, said Nifty Index made a higher high in Thursday’s session, whereas the BankNifty Index is still significantly below the previous high, leading to inter-market divergence in the short term.
PSU banks s...
Bank stocks selloff drags down Nifty from all-time high
Revenue in-line with expectations: TCS Q1FY24 revenue was in-line with our expectations. Rupee revenue came in at Rs 59,381cr, up by 0.4% QoQ and 12.6% YoY and revenue in USD was 7,226mn, up by 0.4% QoQ and 6.6% YoY. While growth in constant currency was flat QoQ and grew by 7% YoY. Amongst geographies, In terms of CC, the growth was mainly driven by the UK with 16.1% growth YoY followed by India, Latin America and Middle East with 14%, 13.5% and 15.2%, respectively. Amongst verticals, growth...
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