Punjab Newsline | New Delhi
The Indian stock market witnessed strong gains on Friday, October 9, with both benchmark indices trading higher amid buying in IT and FMCG stocks. The BSE Sensex surged around 700 points to trade at 72,300, while the NSE Nifty gained approximately 250 points, crossing the 22,450 mark.
IT and FMCG shares witnessed significant buying interest, supporting the broader market sentiment. The improvement in the Indian rupee and relatively stable crude oil prices also contributed to the positive trend.
The rupee strengthened by 23 paise to trade at 96.65 against the US dollar in early trade, amid expectations of possible intervention by the Reserve Bank of India (RBI). Moderation in crude oil prices has also helped ease pressure on the domestic currency, providing additional support to equities.
Shares of Tata Consultancy Services (TCS) rallied more than 5% on Friday following the company's announcement of its second-quarter financial results. The stock was trading at around Rs 2,170 during the session.
The company also announced a second interim dividend of Rs 12 per share, providing an additional boost to investor sentiment.
