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Nifty, Sensex Rise As Bank, IT Stocks Gain Ground

The NSE Nifty 50 index was up 0.48% at 11,736.50 by 0345 GMT, while the S&P BSE Sensex was up 0.66% at 39,989.80.

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Indian shares rose on Friday as banks and IT stocks recovered from a sell-off in the previous session, with sentiment getting a boost from China-led gains in Asia.

The NSE Nifty 50 index was up 0.48% at 11,736.50 by 0345 GMT, while the S&P BSE Sensex was up 0.66% at 39,989.80.

The Nifty Bank index, which ended 3.4% lower in the previous session, rose 1% on Friday morning, led by a 1.3% rise in HDFC Bank and 1.9% gain in IndusInd Bank.

The Nifty IT index rose 1.3%, with Infosys rising 1.6% to be among the top gainers on the Nifty 50.

Gains in bank and IT stocks this month have helped Indian equities rise for 10 straight sessions as of Wednesday's close.

(Reuters)