Sensex jumps over 600 points as IT stocks lead the rally
Infosys, TCS and Tech Mahindra powered gains even as Asian markets traded weak.
Indian shares opened strong on October 15, with the BSE Sensex rising about 636 points to 73,418 in early trade and the Nifty 50 climbing roughly 176 points to around 22,799.
Information technology stocks did the heavy lifting. The Nifty IT index gained over 2%, with Bharti Airtel, Tech Mahindra, Infosys, TCS and HCL Technologies among the top gainers. Public sector banks were the weakest pocket, falling about 2%.
The rally came despite weak global cues, with Japanese and Hong Kong markets trading lower. Crude oil eased by more than a dollar after the US relaxed some shipping sanctions, while the rupee opened slightly firmer at about 94.92 to the dollar.
Source: Kotak Neo market update, Oct 15
