IT and Financial Services Fire Up the Markets

The Indian equity benchmark indices have recently achieved unprecedented milestones with BSE Sensex breaching the mark of 80,000 and NSE Nifty 50 crossing 24,300 for the first time in history. This remarkable performance can be attributed to several key factors, including the resurgence of IT stocks and the exceptional performance of financial services stocks. Globally, IT-related stocks have been performing exceptionally well. The Indian IT sector, which had faced challenges, is now gradually catching up with the global trend. This resurgence is expected to continue, as July is traditionally one of the best months for the Nifty IT index.