Nifty: Sensex gains as strong earnings outlook push IT stocks higher; TechM soars 3%

NEW DELHI: Massive buying in IT stocks ahead of their earnings scheduled throughout this week and the next, lifted benchmark indices on Wednesday, recovering the morning’s losses. However, weak global cues kept gains in check.

Even as we saw profit booking in the afternoon trade, the broader markets remained fairly vibrant as savvy investors were seen shopping across a host of B2C businesses. Zomato’s IPO kept primary markets buzzing.

The 30-share pack Sensex climbed 134.32 points or 0.25 per cent to close at 52,904.05. The index closed up nearly 400 points from its day’s low. Its broader peer NSE Nifty rose 41.60 points or 0.26 per cent to 15,853.95.

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