Eleven of the 13 major sectoral indexes advanced with high weightage financials rising 0.8%. Information technology stocks rose over 1% and nine of its 10 constituents logged gains. India's largest IT services provider TCS was the exception, losing 0.2% after the resignation of its CEO Rajesh Gopinathan barely a year into his second five-year term. He will be succeeded by TCS veteran K Krithivasan.
Among individual stocks, defence firms like Hindustan Aeronautics , Bharat Forge , Bharat Dynamics gained after the Indian government approved the purchase of equipment worth $8.5 billion from domestic companies. Glenmark Life jumped over 4% after declaring an interim dividend of 21 rupees per share for fiscal 2023.
($1 = 82.5870 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Dhanya Ann Thoppil and Janane Venkatraman)