Sensex ends 160 points higher driven by heavy gains in Infosys, positive macroeconomic cues; TCS, Sun Pharma, TechM among gainers
Infosys was the top gainer in the Sensex pack, closing 7.20 percent higher as investors cheered its financial results.
After swinging 327 points during the day, the 30-share index settled 160.48 points or 0.41% higher at 38,896.71
During the day, Nifty hit a high of 11,618.40 and a low of 11,532.30
Other gainers included Sun Pharma, TechM, Maruti, Kotak Bank, Bajaj Finance and HDFC twins
Mumbai: Market benchmark BSE Sensex ended 160 points higher on Monday driven by heavy gains in index heavyweight Infosys and positive macroeconomic cues.
After swinging 327 points during the day, the 30-share index settled 160.48 points or 0.41 percent higher at 38,896.71. The index hit an intra-day high of 39,023.97 and a low of 38,696.60.
The broader NSE Nifty ended 35.85 points, or 0.31 percent, up at 11,588.35. During the day, the index hit a high of 11,618.40 and a low of 11,532.30.
Infosys was the top gainer in the Sensex pack, closing 7.20 percent higher as investors cheered its financial results. The IT major posted better-than-expected 5.3 percent rise in its June quarter net profit, and raised revenue growth forecast for the current fiscal.
Rival TCS too jumped 1.77 percent.
Other gainers included Sun Pharma, TechM, Maruti, Kotak Bank, Bajaj Finance and HDFC twins, ending up to 3.61 percent higher.
On the other hand, IndusInd Bank, L&T, ITC, Bharti Airtel, ICICI Bank, Yes Bank, SBI and Hero MotoCorp lost up to 2.28 percent.
Besides the rally in Infosys, wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 percent in June, traders said.
Inflation in food articles basket eased marginally to 6.98 percent in June, from 6.99 percent in May. Vegetable inflation too softened to 24.76 percent in June, down from 33.15 percent in the previous month.
Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Nikkei ended in the green, while Kospi settled in the red.
Equities in Europe were trading lower in their respective early sessions.
On the currency front, the Indian rupee appreciated 17 paise to 68.52 against the US dollar (intra-day).
Meanwhile, the global oil benchmark Brent crude futures were trading 0.42 percent higher at $67 per barrel.
In an exclusive interview to political editor Marya Shakil of CNN-News18, she also addresses the Infosys controversy by saying that the “anti-national statement" made by RSS-backed magazine Panchajanya was not right at all.
During the last week, BSE jumped 710 points or 1.21 percent, while market benchmark Sensex scaled the 59,000-mark for the first time
Hindustan Copper Ltd, a public sector undertaking under the administrative control of the Ministry of Mines, was incorporated in November 1967