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Volume IconMarket Wrap, June 26: Here's all that happened in the markets today

On a weekly basis, Sensex gained 1.26 per cent while Nifty added 1.35 per cent

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Rally in information technology (IT) stocks, HDFC Bank, and Reliance Industries (RIL) helped the benchmark index, S&P BSE Sensex, settle with 329 points or 0.94 per cent gains at 35,171 levels on Friday. 

NSE's Nifty rallied 94 points or 0.91 per cent to end at 10,383. Volatility index, India VIX, dropped over 4 per cent to 28.50 levels. 

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Information technology (IT) companies' shares rallied on Friday after Accenture came out with better-than-expected quarterly numbers. The company reported an adjusted third-quarter profit of $1.90 a share, which beat the $1.85 average estimate of 22 analysts surveyed by Bloomberg.

In the management commentary, Accenture said it expects a decline in IT budgets due to the weak economic growth outlook. However, spends on digital transformation will increase, offset by lesser spend on running operations. Accenture will transform run operations providing cost savings, which will be invested back into digital transformation.

Reacting to the development, most IT stocks traded in the green. The S&P BSE Information Technology index ended over 5 per cent higher at 15,125 levels. Infosys, Mindtree, Mastek, and NIIT Tech were among the top gainers on the index - rising up to 7 per cent.

Among individual stocks, Infosys gained 7 per cent, TCS rose 5 per cent while Wipro ended over 3 per cent higher. 
 
On a weekly basis, Sensex gained 1.26 per cent while Nifty added 1.35 per cent. 

The broader indices underperformed the benchmarks. The S&P BSE MidCap index ended 0.27 per cent higher at 13,258.44 levels while the S&P BSE SmallCap rose 0.19 per cent to 12,630 points.

 

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First Published: Jun 26 2020 | 5:14 PM IST

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