The information technology (IT) sector led Friday's gains in Indian shares, which also benefited from improved global cues

26 May 2023 , 11:50 AM

The benchmark S&P BSE Sensex was up 0.37% at 62,103.97, while the blue-chip Nifty 50 index was up 0.37% at 18,388.05

With the high-weightage IT climbing 1% and all 10 constituents posting gains, ten of the 13 major sectoral indices advanced. One of the top Nifty 50 gainers was Tech Mahindra Ltd, followed by Wipro Ltd.

The increase in technology stocks came after the tech-heavy Nasdaq rose sharply overnight on the back of good earnings from chipmaker Nvidia

The sentiment was further bolstered by developments in the U.S. debt ceiling negotiations prior to the June 1 deadline. Asian markets made slight gains.

Reliance Industries Ltd, the stock with the highest market capitalization in the Nifty 50 index, increased by almost 2%. Reliance Consumer Products, a division of the business, successfully acquired a 51% share in Lotus Chocolate

Shares of National Aluminium Company Ltd increased by more than 3% as analysts repeated their positive outlook on the aluminium producer following the release of the firm’s core profit results, which exceeded expectations.

Metal stocks have been the main driver of this week’s over 1% increase in the Nifty 50 increased 5% because to a jump in Adani stock prices.

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