Sensex, Nifty rise to four-week high | Check top gaining shares
India Today
The Nifty 50 index was up 0.81 per cent or 134.45 points at 16,770.1, while the S&P BSE Sensex rose 0.99 per cent or 550.87 to 56,368.98.
Sensex and Nifty rose to a four-week high on Friday and were set for their third straight weekly gain, propped up by a strong recovery in beaten-down technology stocks.
The NSE Nifty 50 index was up 0.81 per cent or 134.45 points at 16,770.1, while the S&P BSE Sensex rose 0.99 per cent or 550.87 to 56,368.98. The indexes are set for weekly advances of 2.5 per cent each, if gains hold.
The Nifty IT index rose as much as 2.4 per cent and was set for a weekly gain of around 6 per cent, after declining for eight consecutive weeks. The index has dropped 23 per cent so far this year.
Shares of UltraTech Cement reversed early gains to fall up to 2.5 per cent after the company said it would spend 128.86 billion rupees ($1.66 billion) to increase its annual capacity as it looks to stave off competition from the sector's newest entrant, Adani Group.
Lifting local sentiment, broader Asian markets were supported by the prospect of the US Federal Reserve turning less aggressive on its policy tightening stance following a softer-than-expected employment data.
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