Indian stocks rise on IT, financial boost

Bengaluru, October 19 (Reuters): Indian shares rose on Tuesday to hit another record high, led by gains in information technology and financial stocks, with investors betting on strong corporate earnings for the September quarter.

The NSE Nifty 50 index (.NSEI) was up 0.5% at 18,571, while the S&P BSE Sensex (.BSESN) rose 0.63% to 62,156.48 by 0355 GMT.

The Nifty IT index (.NIFTYIT) rose 1.8% and was the top gainer among the sub-indexes.

Shares of information technology services provider Larsen and Toubro Infotech (LRTI.NS) surged 10% after reporting strong September quarter results.

Consumer giant Hindustan Unilever is among a slew of companies that will report earnings later in the day.

The Nifty metals index (.NIFTYMET) rose 0.6% as global prices surged on fears of production and supply cuts.

The Nifty bank index (.NSEBANK) was up 0.6%, while the finance index (.NIFTYFIN) gained 0.7%.


Disclaimer :- This story has not been edited by The Sen Times staff and is auto-generated from news agency feeds.
Source: Reuters