IT resilience gives D-St a silver lining amid geopolitical clouds
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India's benchmark indices ended higher on Friday but gave up most of the early gains as lingering geopolitical uncertainty partly eclipsed optimism in IT stocks driven by better-than-expected revenue forecasts by bellwether Infosys. The NSE Nifty rose 28.75 points or 0.1% at 25,694.35. The BSE Sensex ended at 83,570.35, climbing 187.64 points or 0.2%. Both indices had risen as much as 0.9% earlier in the day. For the truncated trading week, Nifty rose marginally while Sensex ended a tad lower. "Infosys and a slew of PSU banks reported a good set of numbers, which led to a rally in these stocks, but worries about tensions on the geopolitical front over the weekend prompted investors to book profits," said Sunny Agrawal, head of fundamental research at SBI Securities. Brent crude futures dropped 4.2% to $63.8 a barrel on Thursday after worries about the US attacking Iran eased. Gold prices declined 0.1%, and silver prices fell...