Sensex ends 139 points higher at 38,906, Nifty rises 47 points; TCS shares gain nearly 5%
Equity benchmark Sensex added another 139 points on Monday, marking third straight session of gains, as encouraging the start of the earnings season by IT major TCS boosted investors' sentiment
After rising over 200 points intra-day, the 30-share BSE index finally settled 138.73 points, or 0.36 percent, higher at 38,905.84
The broader NSE Nifty rose 46.90 points, or 0.40 percent, to close at 11,690.35
The rally was mainly driven by Sensex heavyweight TCS, soaring 4.78 percent, which posted strong Q4 numbers
Mumbai: Equity benchmark Sensex added another 139 points on Monday, marking third straight session of gains, as encouraging the start of the earnings season by IT major TCS boosted investors' sentiment.
After rising over 200 points intra-day, the 30-share BSE index finally settled 138.73 points, or 0.36 percent, higher at 38,905.84. The broader NSE Nifty rose 46.90 points, or 0.40 percent, to close at 11,690.35.
The rally was mainly driven by Sensex heavyweight TCS, soaring 4.78 percent, which posted strong Q4 numbers.
However, in percentage terms, Tata Motors was the biggest gainer in the Sensex pack rallying 7.04 percent. Other top performers were TCS, Coal India, Tata Steel, Hero MotoCorp, Kotak Bank, HCL Tech, Bharti Airtel, HDFC Bank, Bajaj Auto and NTPC, ending up to 4.78 percent higher.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
IT bellwether TCS soared after the company Friday reported a 17.7 percent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter. However, rival Infosys was the top loser on Sensex, shedding 2.83 percent, due to concerns on the revenue guidance front.
Infosys posted a 10.5 percent rise in consolidated net profit at Rs 4,078 crore for the March 2019 quarter, and guided towards 7.5-9.5 percent growth in revenue for FY 2019-20.
Other losers include, Sun Pharma, Yes Bank, ONGC, Asian Paints, HDFC, ICICI Bank, L&T, ITC and RIL, slipping up to 1.26 percent.
Meanwhile, foreign institutional investors (FIIs) purchased equity worth Rs 897.45 crore on Friday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 15.99 crore, provisional data available with stock exchanges showed.
Elsewhere in Asia, markets in Japan, China and Korea ended on a mixed note.
In Europe, bourses in Germany, France and the UK were trading in the positive terrain in early deals.
Global crude oil benchmark Brent futures fell 0.73 percent to $71.03 per barrel.
Meanwhile, the Indian rupee depreciated 19 paise to 69.36 against the US dollar intra-day.
India VIX closed at 20.83 points. BSE Midcap fell by 0.93 percent to 24,615.79 while BSE Smallcap fell by 1.93 percent to 27,538.93
In terms of sectoral indices, auto, media and metal incurred losses of over 3 percent, while pharma rose by 1.70 percent. India VIX rose by 24.84 percent to jump to 20.80 levels. BSE Midcap fell by 3.23 percent to 24,846.51 while BSE Smallcap declined by 2.61 percent to 24,846.51
Market Roundup : Sensex rises by 198 points, Nifty ends at 17,503; check top winners and losers here
. Broader markets outperformed, with BSE Midcap rising by 1.61 percent to 25,646.47 and BSE Smallcap gaining 1.81 percent to end at 28,450.31. India VIX rose by 2.82 percent to end at 18.02 levels