Sensex closes 255 points up, Infosys stocks gain
A benchmark index of Indian equities markets rose 255 points Friday led by strong rally in IT stocks after Infosys announced good quarterly numbers and raised revenue forecasts.
The 30-scrip S and P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,535.90 points, closed at 20,528.59 points, up 255.68 points or 1.26 percent from Thurday's close at 20,272.91 points.
The Sensex saw a high of 20,559.69 points and a low of 20,368.06 points in the day's trade.
The wider 50-scrip S and P CNX Nifty of the National Stock Exchange (NSE) also made healthy gains. The index increased by 75.25 points or 1.25 percent at 6,096.20 points.
There was strong buying support in IT stocks after the country's second largest software exporter Infosys revised its revenue guidance upwards in rupee and dollar terms for the 2013-14 fiscal.
The company reported a net profit of Rs.2,407 crore for the quarter ended September 2013 as compared to a net profit of Rs.2,374 crore in the previous quarter.
The share price of Infosys surged 4.57 percent to Rs.3,267 at the BSE.
The BSE IT index jumped 2.77 percent. Realty index was up 3.2 percent and capital goods index was up 2.73 percent.
The prominent Sensex gainers were: ICICI Bank, up 5.01 percent at Rs.995.45; Larsen and Toubro (L and T), up 4.26 percent at Rs.881.95; Tata Motors, up 3.60 percent at Rs.385.15; and Maruti Suzuki, up 3.01 percent at Rs.1,464.05.
The losers were: Coal India, down 3.88 percent at Rs.282.60; Tata Power, down 2.56 percent at Rs.81.80; NTPC, down 2.47 percent at Rs.143.95; Hindalco Inds, down 2.39 percent at Rs.114.20; and Sun Pharma, down 2.14 percent at Rs.625.65.
(Posted on 11-10-2013)