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TCS rub-off lifts Nifty, Sensex to fresh highs
Business Standard
|July 13, 2024
Indices see 6th weekly winning run; FPIs bullish amid Fed rate cut hopes
India's benchmark indices reached fresh highs on Friday, propelled by gains in Tata Consultancy Services (TCS), a day after the IT bellwether reported a better-than-expected performance for Q1FY25.
Robust buying by foreign portfolio investors (FPIs) and a cooling of US inflation that stoked hopes of an early rate cut by the Federal Reserve also helped the indices post consecutive six weeks of gains their longest weekly winning streak since December 15, 2023 (seven weeks of gains).
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