Markets rally on TCS, softer crude
Mumbai, July 11 -- Indian equities staged a sharp comeback on Friday as better-than-expected earnings from Tata Consultancy Services (TCS) and easing geopolitical concerns revived investor sentiment after a turbulent week dominated by renewed US-Iran hostilities and higher oil prices.
Analysts, however, said the rebound would need support from more encouraging corporate earnings and easing geopolitical tensions to sustain next week.
On Friday, the BSE Sensex jumped 1.08% to close at 77,569.39, while the Nifty 50 gained 1.02% to settle at 24,206.90. The gains built on Thursday's modest recovery of 0.31% and 0.34%, respectively, after Wednesday's sharp sell-off. Even so, the two-day rebound was not enough to erase the more than 2% decline on ...
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