Indian shares open higher, led by IT stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 07 2024
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Source: Reuters
Market Performance: Indian shares opened higher, with the Nifty 50 index up 0.43% and the S&P BSE Sensex gaining 0.29%, driven by strong U.S. jobs data that alleviated recession fears and boosted investor sentiment after a previous week of losses.
Sector Highlights: All major sectors recorded gains, particularly IT companies which rose by 1%, while individual stocks like HeidelbergCement India surged 10% due to acquisition talks, and Jio Financial Services increased by 3% following regulatory approval for a mutual fund business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
