Stock market today: Indian stock market benchmarks—the Sensex and the Nifty 50—rose nearly a per cent each to hit fresh all-time highs in intraday trade on Friday, July 12, on gains led by select IT and banking heavyweights.
Market sentiment received a boost from TCS’s better-than-expected Q1 earnings, further enhanced by a slower-than-anticipated rise in the US Consumer Price Index (CPI) inflation.
TCS reported an 8.72 per cent YoY rise in its consolidated net profit to ₹12,040 crore for Q1FY25. Its revenue for the quarter grew 2.2 per cent QoQ in CC (constant currency), beating the estimates of 1.5 per cent QoQ growth.
TCS’s earnings were seen by experts as signals of green shoots in the IT sector. The stock closed with a healthy gain of 6.68 per cent at ₹4184.90 and stood at the top of the Sensex and the Nifty 50 index.
Nifty 50 hit a fresh all-time high of 24,592.20, while the Sensex made a fresh peak of 80,893.51 during the session.
Nifty 50 jumped 186 points, or 0.77 per cent, to settle at a fresh closing high of 24,502.15. The Sensex also settled at its fresh closing high of 80,519.34 with a gain of 622 points, or 0.78 per cent.
(More to come)
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First Published:
12 Jul 2024, 03:51 PM IST
HomeMarketsStock MarketsNifty 50, Sensex end at fresh record highs; what drove the Indian stock market today?- explained
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