Sensex, Nifty rise marginally as Wipro results boost IT stocks

At 9:25 am, S&P BSE Sensex was 0.03 per cent higher at 48,826.51, while NSE Nifty 50 was up just 0.1 per cent at 14,599.50. IT services shares climbed 1.3 per cent, led by Wipro which rose 5.7 per cent.

India’s benchmark market indices opened higher on Friday as the market mood was lifted by strong earnings from technology firm Wipro. However, the overall sentiment remains weak as investors are worried about increasing localised restrictions in the wake of the second Covid-19 wave. At 9:25 am, S&P BSE Sensex was 0.03 per cent higher at 48,826.51, while NSE Nifty 50 was up just 0.1 per cent at 14,599.50. IT services shares climbed 1.3 per cent, led by Wipro which rose 5.7 per cent. While the corporate earnings season has provided a boost to domestic markets, the rising Covid-19 cases in the country and restrictions are likely to hurt economic recovery in the near term. Markets are worried that it could spoil business sentiment, affect jobs and reduce demand.