Indian shares rise as HCLTech earnings boost IT stocks
Indian equities rose in early trade as strong earnings from HCLTech spurred investor interest in beaten down technology stocks. The central bank supported the domestic currency, easing overall market sentiment despite persistent inflation concerns.
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India equities rose during Tuesday morning trade, led by a 3.4% surge in information technology stocks after strong earnings from software exporter HCL TECHNOLOGIES LTD. The market rebound follows central bank interventions to stabilize the domestic currency. The Nifty 50 and BSE Sensex each climbed 0.9%. Better-than-expected software earnings are easing valuation concerns across the sector.
