On 12 July, Indian stock market indices Sensex and Nifty reached record highs, led by strong buying in IT stocks after TCS's 8.7% growth in net profit.
Indian stock market indices Sensex and Nifty reached record highs on 12 July, with the Sensex rising 622 points or 0.78%, and Nifty gaining 186 points or 0.77%. The rally was led by strong buying in IT stocks after Tata Consultancy Services (TCS) announced its June quarter earnings, which showed an 8.7% growth in net profit at Rs 12,040 crore. IT stocks, Pharma, and FMCG were major gainers. The market is optimistic that improved inflation could lead the Federal Reserve to ease monetary policy in September.
July 12, 2024
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