Sensex, Nifty hit record high on buying in IT stocks after TCS earnings
Among Sensex, Tata Consultancy Services rose nearly 6 per cent after the country's largest IT services player reported 8.7 per cent growth for the June quarter.
Sensex and Nifty hit their fresh record high levels today (July 12) amid heavy buying in IT stocks after TCS announced its June quarter earnings. BSE Sensex zoomed 996.17 points to hit all-time high of 80,893.51 while NSE Nifty jumped 276.25 points to a new lifetime peak of 24,592.20. Among Sensex, Tata Consultancy Services rose nearly 6 per cent after the country's largest IT services player reported 8.7 per cent growth for the June quarter and net profit at ₹12,040 crore. Other major gainers included Infosys, Tech Mahindra, HCL Technologies, Axis Bank and Bajaj Finance while among the laggards were Maruti, Kotak Mahindra Bank, Asian Paints and ITC.
Stock market today: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Reuters)
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V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks.”
The BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on July 11 while The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.
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The BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on July 11 while The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.
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Home/Business/Sensex, Nifty hit record high on buying in IT stocks after TCS earnings
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