Sensex gains for 2nd day; rises by 210 pts
The BSE benchmark index Sensex rose for the second day today gaining 210 points on buying by funds in fundamentally strong scrips, especially software and metal stocks, after impressive corporate earnings amid a firming global trend.business Updated: Jan 18, 2011 16:28 IST
The BSE benchmark index Sensex rose for the second day on Tuesday gaining 210 points on buying by funds in fundamentally strong scrips, especially software and metal stocks, after impressive corporate earnings amid a firming global trend.
The Bombay Stock Exchange benchmark Sensex spurted by 209.80 points to close at 19,092.05 points.
The broad-based National Stock Exchange index Nifty shot up by 69.30 points to 5,724.05 points.
Market sentiment improved after software major TCS reported nearly 30 per cent rise in the third quarter net profit, brokers said.
The metal sector stocks were second in a row in pushing up the market following a recent hike in steel prices and a rising base-metal prices in overseas markets.
Besides, a better trend in emerging markets, which rose for the first time in four days as technology companies gained on speculation demand for software services will be sustained, was another boosting factor.
The IT sector index gained the most rising by 2.60 per cent to 6,720.76 as the segment major TCS rose by Rs 62.40 to Rs 1,200.55, Infosys by Rs 50.20 to Rs 3,318.15 and Wipro by Rs 13 to Rs 479.15.
The metal sector index rose by 2.31 per cent to 16,528.72 points as shares of Tata Steel, JSW Steel, Sterlite Industries and Hindalco recorded handsome gains.
As the buying activity spilled over a wide-front, the midcap index rose by 0.45 per cent to 7,155.35 and small cap index by 0.28 per cent to 8,893.27 points.