Indian equities rebounded on Friday, October 9, after two sessions of sharp losses, with the Sensex rising about 829 points, or 1.16 percent, to around 72,422 intraday and the Nifty reclaiming 22,500, up about 274 points, or 1.23 percent, according to reports. The move marked a broad recovery for the benchmarks following the declines of the previous two sessions.
IT stocks led the rebound during the session, according to reports. TCS gained about 5 percent after reporting September-quarter net profit up 15 percent to Rs 13,884 crore, and the Nifty IT index climbed more than 3 percent as the sector supported the wider market advance.
The Sensex advance of about 829 points to around 72,422 intraday and the Nifty return above 22,500 with a gain of about 274 points set the tone for the October 9 session, according to reports. The rebound followed two sessions of sharp losses and was led in large part by the strength in IT shares.
Brent crude eased about 1.11 percent to around 103 dollars a barrel, supporting sentiment during the session, according to reports. The softer crude price was cited alongside the IT-led gains as part of the backdrop for the market recovery on Friday.
With the Nifty IT index up more than 3 percent and TCS higher by about 5 percent on its September-quarter profit of Rs 13,884 crore, up 15 percent, the October 9 trade closed the week with the Sensex and Nifty both recovering ground, according to reports. Brent at around 103 dollars, down about 1.11 percent, added to the supportive tone after the two earlier sessions of losses.
The October 9 session showed the Sensex at around 72,422 intraday after the gain of about 829 points and the Nifty back above 22,500 after rising about 274 points, according to reports. IT leadership, including the more than 3 percent rise in the Nifty IT index, remained central to the rebound described for Friday trade.
