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Sector
Technology
Size
Large Cap
Market Cap £48.98bn
Enterprise Value £46.86bn
Revenue £9.60bn
Position in Universe 5th / 3023

Indian shares rise as banks, techs regain in choppy session

Fri 16th October, 2020 7:18am
BENGALURU, Oct 16 (Reuters) - Indian shares rose in a choppy
trading session on Friday as banks and tech stocks recovered
from a sell-off in the previous session, but gains were capped
by weak sentiment in global markets due to rising COVID-19 cases
in Europe and the United States.
    The NSE Nifty 50 index  .NSEI  was up 0.67% at 11,758.20 by
0534 GMT, while the S&P BSE Sensex  .BSESN  was up 0.64% at
39,983.94. 
    "It has been a market where any fall has been bought into
strongly and the bounce has been even stronger... valuations
could remain elevated as market is expecting earnings to catch
up," said Siddhartha Khemka, head of retail research at Motilal
Oswal.
    Before the slide on Thursday, banks and IT stocks had
fuelled gains in equities for 10 straight sessions.
    The Nifty Bank  .NSEBANK  index, which ended 3.4% lower in
the previous session, rose 1% on Friday morning, led by a 1.1%
rise in HDFC Bank  HDBK.NS  and 1.4% gain in IndusInd Bank
 INBK.NS .
    The Nifty IT index  .NIFTYIT , up 8.6% so far this month
gained as much as 1.6% in early trading and is now 0.4% up.
    The Nifty Energy index  .NIFTYENR  was up 0.6%, with
state-run refiner Bharat Petroleum Corporation  BPCL.NS  adding
2.7% to be the top gainer on the Nifty 50. 
    Shares of Tata Group firms Titan Company  TITN.NS , Tata
Steel  TISC.NS  and Tata Consultancy Services  TCS.NS  rose
between 0.7% and 2.1%.
   The conglomerate had on Thursday said it had not received any
formal proposal from the Shapoorji Pallonji Group to separate
its interests. 
    

 (Reporting by Philip George in Bengaluru; Editing by Arun
Koyyur)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))
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