Nifty trades above 22,500 level; IT shares rally
Mumbai, Oct. 13 -- The key equity benchmarks traded with strong gains in morning trade supported by easing bond yields, a strengthening rupee and a decline in Brent crude prices. Investors remained focused on September-quarter earnings, with the Nifty trading above the 22,450 mark.
Market participants will monitor global cues, key US inflation data, the ongoing September-quarter earnings season and foreign institutional investor (FII) flows.
IT shares rebounded after declining in the past trading session. The rally was driven by a combination of factors, including better-than-expected September-quarter results from TCS and HCL Technologies, a slowdown in the AI trade and the US dollar's appreciation against the rupee, which supported IT...
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