Active Stocks
Thu Mar 28 2024 13:49:19
  1. Tata Steel share price
  2. 155.60 1.80%
  1. HDFC Bank share price
  2. 1,454.40 0.95%
  1. Power Grid Corporation Of India share price
  2. 277.00 2.20%
  1. ITC share price
  2. 430.30 0.54%
  1. State Bank Of India share price
  2. 754.80 2.83%
Business News/ Home-page / Sensex climbs 270 points on Infosys earnings
BackBack

Sensex climbs 270 points on Infosys earnings

Sensex climbs 270 points on Infosys earnings

Premium

PTI

Mumbai: The stock market benchmark Sensex climbed more than 270 points on 13 April on a flurry of buying by funds as well as retail investors on better-than-expected earnings from IT major Infosys and a slip in inflation.

The BSE-30 share index, Sensex, which fell by 69 points on 12 April, staged a strong comeback to close 270.27 points or 2.06% up at 13,384.08 after touching the day’s high of 13,421.05, thanks to a rally in IT, banking, metals and capital goods sector stocks.

Inflation, which fell back to 5.74% for the week ended March 31 from 6.39% in the previous week, also positively influenced the trading sentiment.

The wide-based National Stock Exchange index Nifty, regained 3,900 points level to close 92.80 points, or 2.28% higher at 3,917.35. It moved between 3,924.55 and 3,828.45 points during the session.

Infosys today reported a 69.27% growth in net profit at 1,124 crore for the quarter ended March 31, as compared to 664 crore in the year-ago period.

Market observers said expectations that other corporate giants might follow Infosys Technologies and come out with strong earnings for the fourth quarter, sparked all-round buying activity.

Infosys Technologies stocks remained the centre of brisk activity throughout the session and ended 43.95 or 2.15% higher at 2,087.60, while TCS stocks shot up by 61.6, or 5.13% to 1,262.65.

Other gainers in the IT sector were HCL Technologies, I-flex, Mphasis, Patni Computer, Satyam Computer, Wipro and Financial Technologies.

Among banking stocks, State Bank of India, ICICI Bank and HDFC Bank were major supporters to the Sensex.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Apr 2007, 05:01 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App