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Sensex up 60 points in early trade on TCS earnings

The benchmark Sensex rises by over 60 points after software major, Tata Consultancy posts strong earnings for fourth quarter.

business Updated: Apr 17, 2007 10:37 IST

The stock market on Tuesday opened firm with the Bombay Stock Exchange's benchmark index, Sensex rising by over 60 points after software major, Tata Consultancy posted strong earnings for the fourth quarter.

The BSE-30 share index, which gained over 580 points in the past two sessions, gathered another 60.18 points at 13,755.76 in the first five minutes of trading.

Similarly, on National Stock Exchange, the wide-based Nifty index was up by 16.65 points at 4,030.00.

The better-than-expected fourth quarter earnings announced by Tata Consultancy and overnight gains at US markets buoyed the trading sentiments.

Tata Consultancy posted 44 per cent growth in net profits to Rs 1195.19 crore for the fourth quarter ended March 31.

Tata Consultancy stocks were up by nearly Rs 20 at Rs 1299.85 on funds and retail investors buying. Other major gainers were Hindustan Lever, Hero Honda, Satyam and ACC.

First Published: Apr 17, 2007 10:34 IST