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IT, earnings, tax-cut hopes power Indian shares to monthly gains
Indian shares snapped a two-month losing streak in October, lifted by IT stocks, resilient earnings and hopes of capital-tax relief, though a surge in crude prices due to lingering Middle East tensions capped gains. On Friday, the benchmark Nifty 50 added 0.51% to 23,053.1, while the Sensex rose 0.42% to 74,459.53. For the month, the indexes advanced 1.9% and 2.7%, respectively. Nine of the 16 major sectors rose this month, with the IT index jumping 17.7% in its strongest monthly performance in more than six years. “IT stocks remain near historical averages in terms of valuations, even as visi...
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