Sensex Recovers 700 Points Driven By IT Sector Rally
· Business · Economic Times
The Sensex staged a 700-point recovery on Friday morning after an initial dip, trading near the 74,775 level. The rally was primarily fueled by a fourth consecutive day of gains in the IT sector, with stocks like Tech Mahindra and Infosys rising as much as 7%. Broader market sentiment also received support from buying in auto, metal, and PSU banking stocks. Analysts attribute the resilience to strong corporate earnings and a decline in US 10-year bond yields to 5.07%, which improves the appeal of Indian equities for foreign investors.
Why it matters
The market rebound signals renewed investor confidence in Indian IT stocks and broader economic stability amidst fluctuating global bond yields.
Read the original report — Economic Times
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