India’s BSE Sensex rose about 0.6% to 78,001 on Friday, extending gains for a third straight session and reaching its highest level since April 22, as easing expectations of a near-term US Federal Reserve rate hike and softer crude oil prices boosted investor sentiment.
Information technology stocks led gains, buoyed by easing US interest-rate expectations after softer-than-expected jobs data strengthened the outlook for lower borrowing costs.
Zensar and HCL Tech rose 5.8% and 4.2% respectively, while TCS, Persistent, Wipro, Eternal and Coforge increased between 1.2% and 2.5%.
Meanwhile, investor focus remained on quarterly business updates, with Bajaj Finance reporting a 20% increase in new loans and a 24% rise in assets under management.
Punjab National Bank posted an 11.7% increase in domestic advances, while Avenue Supermarts reported 15.1% revenue growth.
FMCG major Marico said it expects first-quarter revenue growth to exceed 20%, reflecting healthy demand trends.