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Market LIVE: Sensex up 200 pts, Nifty tests 14,950; banks surge, auto stocks hit

Sensex, Nifty end higher for fifth straight day; PSU banks soar, auto stocks hit
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On Thursday, the BSE Sensex ended at 50,614.29, up 358.54 points or 0.71%. The Nifty closed at 14,895.65, up 105.70 points or 0.71%. (Photo: iStock)
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Indian indices closed higher for the fifth straight day today, with the Sensex topping the 51,000-mark and Nifty the 15,000-level intraday. The RBI kept repo rate unchanged at 4%. Nifty PSU Bank index rose 3.6%, while auto index fell 1.3%
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05 Feb 2021, 03:45:27 PM IST
Sensex, Nifty extend rally led by PSU banks; RBI stands pat on rates
Indian markets closed higher for the fifth consecutive day in a volatile session on Friday.

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Indian IT stocks on cloud nine after Accenture's strong results

Stocks of IT companies are on cloud nine after Accenture’s strong results
Accenture’s results indicate that demand outlook remains strong and there is acceleration in cloud adoption.
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Shares of software services firms Tata Consultancy Services Ltd (TCS) and Infosys Ltd hit a new 52-week high on Friday after Accenture Plc announced better-than-expected results for its first quarter. The company follows a September-August financial year. What’s more, the management’s commentary was reassuring too. Analysts say that large Indian IT firms tend to mirror Accenture’s performance with some lag, and with other channel checks suggesting strong IT demand, the outlook for India-based companies remains strong.

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