MUMBAI — Indian equity markets recovered on Friday, supported by gains in information technology stocks, as investors assessed corporate earnings and global economic concerns.
Tech Mahindra shares rose 7.1 per cent, while Wipro gained 5.7 per cent following their quarterly results. The IT sector index also recorded a strong advance, helping lift the broader market.
However, concerns over elevated crude oil prices and global inflation continued to weigh on investor sentiment. Higher oil prices can increase India's import bill and add pressure on inflation, while uncertainty over the global economy can affect corporate earnings and investment decisions.
The market's direction is likely to depend on upcoming corporate results, movements in crude oil prices and developments in the wider global economy.
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