Sensex advances further at mid-session led by IT stocks | business | Hindustan Times
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Sensex advances further at mid-session led by IT stocks

Sensex advanced further at mid-session on Wednesday, gaining over 200 points on buying by funds in fundamentally strong stocks led by software exporting companies on expectations of an early recovery from the global economic recession.

business Updated: Nov 11, 2009 15:08 IST

The BSE benchmark Sensex advanced further at mid-session on Wednesday, gaining over 200 points on buying by funds in fundamentally strong stocks led by software exporting companies on expectations of an early recovery from the global economic recession.

The Bombay Stock Exchange index Sensex, which commenced the day higher, rose further to record a gain of 207.31 points at 16,647.87 at 1230 hrs with the IT stocks such as Infosys, Wipro and Tata Consultancy Services trading higher.

The wide-based National Stock Exchange index Nifty rose by 64.40 points to 4,946.10 at the same time.

Marketmen said the upsurge was led by IT stocks after Nasscom on Tuesday said the country's software exporting business would regain double-digit growth from April 2010 leaving behind the prolonged recession.

"Next year, starting from April we will see double-digit growth coming back," Nasscom President Som Mitta had said.

Traders added that the rising trend was also supported by metal sector stocks after base-metal prices gained substantial ground in the overseas markets.