Indian equity benchmarks extended their recovery for a third consecutive session on Friday, driven by a broad-based rally in information technology stocks.
The BSE Sensex closed 261.79 points higher at 77,763.91, while the Nifty 50 added 95.15 points to finish at 24,270.85.
9% as investors reacted to softer-than-expected US labor data.
The gains came after markets had pulled back from intraday highs, suggesting some profit-taking at elevated levels despite the positive sentiment.
The IT sector led the charge, rising 1.9% as investors reacted to softer-than-expected US labor data.
US job growth slowed sharply in June, and payroll gains for the prior two months were revised lower.
For Indian IT firms, which derive a significant share of revenue from the US, the data is viewed as a positive signal that a hard landing in the world’s largest economy is being avoided, potentially preserving corporate spending on technology services.