Friday, July 19, 2013

Sensex soars 102 points in morning trade boosted by gains in IT stocks

Mumbai:19 Jul 2013,

The BSE benchmark Sensex on Friday rose by over 102 points in early trade, mainly led by gains in IT stocks, including TCS jumping over 3.37 percent, after the software services major posted better-than-estimated first quarter earnings. Besides that, a mixed trend in the other Asian markets also buoyed the trading sentiment.

The 30-share index, which had gained 277.18 points in the previous two sessions, rose by 102.20 points, or 0.50 percent, to 20,230.61, a level last seen on May 30. Stocks of IT, technology, auto and metal sectors also led to the rise in morning trade.

Similarly, the wide-based National Stock Exchange index Nifty rose by 28.80 points, or 0.47 percent, to 6,066.85. Brokers said that the sentiments gained momentum after the country\'s largest software exporter Tata Consultancy Services reported consolidated better-than-expected net profit of Rs 3,831 crore for the June quarter, up 15.5 percent from Rs 3,318 crore in the same period last year.

Stock of TCS surged 3.37 percent to Rs 1,716.05 in the morning trade, Infosys gained 1.60 percent to Rs 2,844.25, while Wipro rose by 1.25 percent to Rs 389.80.

In the Asian region, Hong Kong\'s Hang Seng index was up by 0.15 percent, while Japan\'s Nikkei Index shed 1.37 percent in the morning trade today. The US Dow Jones Industrial Average rose 0.50 percent to close at record highs in Thursday's trade.
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