Sensex recovers 41 pts in opening trade, TCS leads rally
The Bombay Stock Exchange benchmark Sensex recovered by nearly 41 points in the opening trade today on fresh buying by funds after Tata Consultancy posted better-than-estimated quarter earnings.business Updated: Jul 16, 2010 10:20 IST
The Bombay Stock Exchange benchmark Sensex recovered by nearly 41 points in the opening trade on Friday on fresh buying by funds after Tata Consultancy posted better-than-estimated quarter earnings.
The 30-share index, which had lost over 75 points in the previous two sessions, gained 40.85 points, or 0.22 per cent, at 17,950.31 points in the opening trade.
The broad-based National Stock Exchange index Nifty also rose 10.35 points, or 0.19 per cent, to 5,389.10.
Brokers said that trading sentiment turned better after the country's top software exporter, Tata Consultancy Services, reported a 24.25 per cent jump in its June quarter profits at Rs 1,906.07 crore over the year-ago period.
Stocks of Tata Consultancy Services climbed over 4 per cent to Rs 816.05, while Infosys Technologies gained 0.15 per cent to Rs 2,763.
Among other gainers, ICICI Bank went up by 1.10 per cent to Rs 891.65, Mahindra and Mahindra by 0.76 per cent to Rs 621.50, Reliance Infra by 0.23 per cent to Rs 1,153, Tata Motors by 0.23 per cent to Rs 812, Tata Steel by 0.72 per cent to Rs 515 and Wipro by 1.37 per cent to Rs 407.50.
Hong Kong's Hang Seng Index was up 0.76 per cent, while Japanese Nikkei gained 0.35 per cent in morning trade.