Sensex up 195 points in early trade on Wipro earnings
Sensex recovers by almost 195 points after IT major Wipro posted strong earnings for the fourth quarter.business Updated: Apr 20, 2007 10:31 IST
The stock market opened firm on Friday with the Bombay Stock Exchange benchmark Sensex recovering by almost 195 points after IT major Wipro posted strong earnings for the fourth quarter.
The BSE 30-share index, which had lost over 52 points on Thursday, recovered by 194.70 points, or 1.43 per cent at 13,814.40 in the first five minutes of trading.
Similarly, on the wide-based National Stock Exchange, Nifty index was up by 57 points at 4,054.65 points.
The better-than-expected fourth quarter earnings announced by the Wipro and firming trends at other Asian markets mainly buoyed the trading sentiments.
Wipro, India's third-largest software services exporter today posted a 24.54 per cent jump in net profits for the fourth quarter at Rs 818.9 crore as against Rs 657.5 crore recorded in the same period an year ago.
Wipro stocks traded Rs 20 higher at Rs 596 while Satyam Computer gained Rs 17 at Rs 465. Infosys Technologies rose 1.66 per cent at Rs 2073.
Petrochemicals giant and most-valued company's stocks RIL crossed Rs 1,500 mark for the first time to be quoted higher at Rs 1,504.50 on sustained buying by funds.
Other gainers were ACC, Reliance Capital, Reliance Energy State Bank of India, ICICI Bank and SAIL.