Strong third-quarter corporate earnings lifted Indian stocks ahead of the federal budget due next week, while a technology stocks-led rally on Wall Street helped broader sentiment.
Two analysts expected car makers to post strong sales in the December quarter, helped by a pandemic-free festive season., strong earnings from most domestic IT firms and easing global recession concerns had resulted in gains in domestic I.T. firms.
Investors were waiting for details from the union budget due next week. Euro zone and U.S. flash PMI data coming later in the day were expected to show less severe economic contractions in December than in the previous month.fell over 1.7% despite posting a stronger-than-expected jump in third-quarter profit on Monday. The stock had logged gains in each of the last five sessions ahead of its results, adding 2.14%.
Meanwhile, Wall Street equities extended gains for a second straight session on Monday, after technology stocks surged on easing fears of a recession.Our Standards:
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