Extending gains: TCS rub-off lifts Nifty and Sensex to fresh highs

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).