Sensex surges 278 points buoyed by Infy earnings
The 30-share BSE index stages a strong comeback to quote 278.13 points at mid-session on Thursday.business Updated: Sep 10, 2012 12:07 IST
The country's key stock market index climbed over 278 points at 1130 hours on widespread buying by funds after software major Infosys Technologies posted strong fourth quarter earnings.
The 30-share BSE index, Sensex, which had lost over 69 points on Thursday, staged a strong comeback to quote 278.13 points, or almost 1.95 per cent, higher at 13,391.94 thanks to a significant rally in IT, banking and metal sector stocks.
In likewise manners, on the wide-based National Stock Exchange, Nifty was up 79 points, or 1.93 per cent at 3,908.85.
Stock observers said better-than-expected fourth quarter earnings by Infosys buoyed the trading sentiments. The software giant's scrip was up Rs 71 at Rs 2,120.
Infosys today reported 69.27 per cent increase in net profit at Rs 1,124 crore for the quarter ended March 31, as compared to Rs 664 crore for the year-ago period.
Other major gainers which lifted the Sensex were TCS, Satyam Computer, Wipro, Reliance Industries, Reliance Capital, State Bank of India and Tata Steel.