BUZZ — IT stocks continue to power Indian shares higher; Nifty eyes best week in six months
* India's share benchmarks Nifty 50, Sensex rise 0.5% each, with IT stocks leading the rise after quarterly revenue beat from Tech Mahindra and Wipro * TEML, WIPR up 7.5% and 5.3% respectively, leading IT index 2.6% higher * Nine of the 16 major sectors advance; the broader small-caps gain 0.3%, mid-caps drop 0.2% * IT stocks have been rallying this week, building on earnings-driven momentum and the selloff in global AI stocks, say two analysts * IT index is up 10.4% this week, on course for its best week in 18 years; Nifty is up 2.6%, set for best week in six months * Among other stocks, Karur Vysya Bank jumps 6% on strong quarterly performance * Persistent Systems slides 3.4% after brokerages flag margin pressures due to higher amortisation costs in the September quarter (Reporting by Bharath Rajeswaran in Bengaluru) ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;)
* India's share benchmarks Nifty 50, Sensex rise 0.5% each, with IT stocks leading the rise after quarterly revenue beat from Tech Mahindra and Wipro * TEML, WIPR up 7.5% and 5.3% respectively, leading IT index 2.6% higher * Nine of the 16 major sectors advance; the broader small-caps gain 0.3%, mid-caps drop 0.2% * IT stocks have been rallying this week, building on earnings-driven momentum and the selloff in global AI stocks, say two analysts * IT index is up 10.4% this week, on course for its best week in 18 years; Nifty is up 2.6%, set for best week in six months * Among other stocks, Karur Vysya Bank jumps 6% on strong quarterly performance * Persistent Systems slides 3.4% after brokerages flag margin pressures due to higher amortisation costs in the September quarter (Reporting by Bharath Rajeswaran in Bengaluru) ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;)