Sensex jumps 267 points tracking global cues, strong earnings from Infosys; Nifty above 10,600 mark
Sensex soared 267.26 points, or 0.76 percent, to 35,429.74. It had rallied 1,161 points in the previous three sessions
Mumbai: The equity benchmark Sensex rallied for the fourth straight session on Wednesday, and jumped 267 points, on encouraging second-quarter earnings by tech major Infosys and positive global cues.
The 30- share Sensex soared 267.26 points, or 0.76 percent, to 35,429.74. It had rallied 1,161 points in the previous three sessions.
The broader NSE Nifty was quoting well above the key 10,600-mark. Nifty was up 81.70 points, or 0.77 percent, to trade at 10,666.45
Traders said the bullish movement was in line with upbeat Asian shares, following overnight gains at the Wall Street coupled with encouraging earnings by Infosys.
Reliance Industries is scheduled to announce its second-quarter earnings later in the day.
Reflecting the bullish mood, all the sectoral indices, led by tech, bankex and realty were trading in positive zone with gains up to 1.47 percent.
Infosys emerged the top gainer in the Sensex pack, by surging 2.68 percent after the company Tuesday posted a 10.3 percent jump in its September quarter consolidated net profit at Rs 4,110 crore, helped by strong deal pipeline and traction in digital revenues.
Other big gainers were ICICI Bank, SBI, Yes Bank, Adani Ports, HUL, Vedanta Ltd, IndusInd Bank, Maruti Suzuki, HDFC Bank, Asian Paint, Axis Bank, Coal India, TCS, Bajaj Auto, PowerGrid, Kotak Bank, Bharti Airtel, RIL, Tata Motors, HDFC Ltd, ITC Ltd and Sun Pharma, rising by up to 1.35 percent.
Domestic institutional investors bought shares worth Rs 1,059.44 crore, as per provisional data available on the BSE.
Japan's Nikkei rose 1.53 percent, Korea gained 1.19 percent, while Shanghai Composite up 0.10 percent. Taiwan too rose 0.80 percent. Financial markets in Hong Kong are closed today.
The US Dow Jones Industrial Average ended 2.17 per cent up on Tuesday on the back of strong earnings and solid economic data.
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The 30-share BSE Sensex declined 227.93 points to 59,491.81 in initial trade. The NSE Nifty went lower by 55.05 points to 17,761.20. However, later both the benchmark indices turned choppy
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