IT powers Indian shares to first weekly gain in three weeks
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Indian shares snapped a two-week losing streak on Friday led by information technology stocks, after firm US economic data allayed fears of a recession in the world’s largest economy, boosting risk appetite globally. The NSE Nifty 50 index ended 1.65% higher at 24,541.15 and posted 0.7% weekly gain. The S&P BSE Sensex added 1.68% to 80,436.84 and was 0.9% higher for the week. All the 13 major sectors logged gains on Friday, with the IT index advancing 2.89%. Valuation concerns and US recession fears are not new to Indian markets, which are likely to demonstrate resilience on strong domestic inflows and easing US growth worries.
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https://www.brecorder.com/news/40317923/it-powers-indian-shares-to-first-weekly-gain-in-three-weeks
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