sensex today: Sensex gains 300 points and regains 72K on surge in IT stocks. Excellent at over 21,700

Indian stock indices posted their fourth straight session of gains on Friday, led by banking and IT stocks, while slightly higher-than-expected US inflation data did not dampen investors’ views on early and aggressive interest rate cuts in the US and Europe.

The BSE Sensex was trading 344 points or 0.48 per cent higher at 72,065. Nifty50 was trading at 21,742, up 95 points or 0.44%, around 9:19 am.

The Consumer Price Index (CPI), the Labor Department’s main inflation indicator, rose 3.4% compared to the same period last year and was higher than the November figure.

In the Sensex pack, Infosys and TCS were the biggest gainers, up 5% and 2.9% respectively. Wipro, Tech Mahindra, HCL Tech and UltraTech Cement also rose 2-3 per cent. On the other hand, M&M, Asian Paints, Bharti Airtel, HUL and Power Grid opened on the downside.There will be more to come…