New Delhi: The Bombay Stock Exchange benchmark Sensex traded high on Wednesday, 14 January after four low sessions due to Satyam fraud scandal. But markets bounced back today rallied by Infosys Q3 profits and positive Asian markets to end 3.3% up.
Trading began with all indices in green but certain sectors outperformed due to significant buying. Oil and gas surged by 5.85%, IT by 5.02%, Tech by 4.57 % and Realty by 4.38%.
Sensex had slipped briefly from the day’s high trading during midsession but soon picked up and the 30-share BSE index ended the day 299.13 points up at 9,370.49 and broad based 50-share NSE Nifty index closed higher by 90.35 at 2835.30.
Reliance Industries had the maximum turnover occupying the top three position on the BSE gainers list. Reliance Communications surged by 10.36 % to Rs185.40, along with Reliance Infrastructure by 9.70% to Rs522.35 and Reliance by 9% to Rs1,178.15.
Infosys continued to surge for second day after announcing its 33% net profit in the third quarter on Tuesday. Their shares rose by 6.07% to trade at Rs 1,304.85.
Other gainers on BSE-index were Mahindra and Mahindra by 5.39% to Rs319.95, Tata Steel by 5.23% to Rs213.45, Jaiprakash Associates by 5.08% to Rs70.35 and Hindalco by 4.12% to Rs50.60.
Asian markets also recovered today as Federal Reserve’s chairman Ben Bernanke assured that stimulus planned by President-elect Brack Obama will give US economy significant boost but fears still spooked investors. Hong Kong’s index Hang Seng ended flat and Japan’s Nikkei was up by 0.29%.