The Indian stock market traded with strong gains on Friday, led by a rally in information technology (IT) stocks. The Nifty IT index gained as much as 2.3%, marking its second consecutive session of gains.
Infosys, Tech Mahindra and HCL Technologies led the sectoral rally, rising more than 3% each. They were followed by Tata Consultancy Services (TCS), Persistent Systems, Mphasis and LTIMindtree.
The rally in IT stocks came amid the ongoing June quarter earnings season, with major large-cap IT companies, including TCS, HCL Technologies, Wipro and Tech Mahindra, having already announced their Q1 results.
The gains in IT stocks also lifted sentiment across the broader Indian stock market, with the benchmark indices rallying more than 1% each.
The Sensex jumped 817.86 points, or 1.06%, to trade at 78,004.73, while the Nifty 50 was higher by 206.60 points, or 0.86%, at 24,279.35.
