Indian Shares Snap Losing Streak on IT Surge
Indian shares broke a two-month losing streak in October driven by strong IT stocks and resilient quarterly earnings. Hopes for capital-tax relief also provided a market tailwind.
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India shares snapped a two-month losing streak in October, with the Nifty 50 rising 1.9% and the Sensex advancing 2.7%. The monthly recovery was powered by a 17.7% surge in IT stocks and resilient quarterly corporate earnings. Gains were capped by a surge in Brent Crude Oil prices due to lingering Middle East tensions.
