Information technology (IT) stocks helped India's benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment.
All the 13 major sectoral indexes logged gains, with the heavyweight IT indexIT firms earn a significant share of their revenue from clients in the United States, and were propped up by strong economicAn upward revision in first-quarter GDP, a surprise fall in jobless claims and positive results from U.S. Federal Reserve'shas risen nearly 10% so far this quarter and is on course to log its best quarter since September 2021.
"The current upward momentum could continue and the 19000-19200 band could be the next resistance for Nifty in the near term", said Deepak Jasani, head of retail research at HDFC Securities.gained as much as 3.82% to a record high, after the company approved investment proposal worth 1.64 billion rupees.
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