Mumbai: The stock market opened on 20 April with the BSE benchmark Sensex recovering by almost 195 points after IT major Wipro posted strong earnings for the fourth quarter.
The BSE index, which had lost over 52 points on 19 April, recovered by 194.70 points, or 1.43% at 13,814.40 in the first five minutes of trading. Similarly 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 posted a 24.54% jump on 20 April in net profits for the fourth quarter at Rs818.9 crore as against Rs657.5 crore recorded in the same period an year ago.
Wipro stocks traded Rs20 higher at Rs596 while Satyam Computer gained Rs17 at Rs 465. Infosys Technologies rose 1.66% at Rs2073.
Petrochemicals giant and most-valued company’s stocks RIL crossed Rs1,500 mark for the first time to be quoted higher at Rs1,504.50 on sustained buying by funds. Other gainers are ACC, Reliance Capital, Reliance Energy State Bank of India, ICICI Bank and SAIL.