MUMBAI: The benchmark index gains 0.53 percent while the broader index is up 0.5 percent as software services exporters lead gains after Wall Street hit a record high on strong data from the holiday shopping season and a fall in initial jobless claims.
Recent data continues to point to a sturdier US economy, further brightening the outlook for India’s export-dependent IT sector. Infosys Limited gained 1.3 percent to Rs 3,565, just below a record high of Rs 3,573 hit on December 20. Tata Consultancy Services Ltd rose 1.1 percent to Rs 2,122.30.
Blue chip stocks also extend gains, after foreign institutional investors were net buyers of Rs 7.44 billion ($119.86 million) in Indian shares on Thursday, bringing their monthly total so far to around $2.5 billion. Housing Development Finance Corporation gained 1.5 per cent, while Larsen & Toubro Limited is up one percent.