Sensex at 6-week high; up 282 point as Infosys rally | business | Hindustan Times
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Sensex at 6-week high; up 282 point as Infosys rally

business Updated: Jul 12, 2013 16:32 IST
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The BSE benchmark Sensex on Friday rose by over 282 points to close at a fresh six-week high led by gains in IT sector stocks as Infosys surged by 11% on smart first quarter results, while NSE index Nifty crossed the 6,000-mark for the first time in one-and-a-half months.

The 30-share index kick-started the day on a firm note at 19,904.84 as country's second largest IT services firm Infosys posted better-than-expected quarterly results. Sensex rose further to close the day higher by 282.41 points, or 1.44%, at 19,958.47.

This is Sensex's highest closing level since 20,215.40 on May 30. It had ended higher by 381.94 points on Thursday.

Similarly, the wide-based National Stock Exchange index Nifty gained 73.90 points, or 1.25%, to close at 6,009.00. This is the first time since closing at 6,124.05 on May 30 that the index has ended above the 6,000 level.

Also, SX40 index, the flagship index of MCX-SX, closed 144.07 points, or 1.23% higher at 11,888.88.

Brokers said the trading sentiment bolstered as Infosys began the earning season by reporting 4% jump in consolidated net profit for the April-June quarter at Rs 2,374 crore.

The sentiment improved further on firming global trend on optimism policymakers from the US to Japan will maintain stimulus, they said.

Out of the 30 BSE index components, 22 stocks closed with gains led by Infosys, the third heaviest on the gauge, rising by 10.92% to Rs 2,802.75.

The biggest software exporter Tata Consultancy Services shot up by 2.94% to Rs 1,606.10 and Wipro by 3.34% to Rs 375.50. The three carry nearly 15% weightage on the benchmark.

Oil refinery major Reliance Industries, carrying the highest weightage on the Sensex, zoomed by 2.21% to Rs 889.60.

Sectorwise, the IT sector index gained the most by rising 6.46% to 6,825.82, followed by technology index by 5.13% to 3,973.38.