BSE Sensex up 125 points on rise in IT stocks

Written by Reuters | Mumbai | Updated: Jan 11 2014, 01:27am hrs
BSE SensexInfosys Ltd gains after the company posted a 21 per cent rise in quarterly net profit, beating analysts' estimates.
The benchmark BSE Sensex moved up by 125 points in late morning trade today on a rise in IT stocks as Infosys increased its revenue growth guidance for the year ending March 31, 2014.

The BSE-30 share index Sensex resumed higher at 20,760.72 and hovered in a range of 20,843.38 and 20,625.17 before quoting 20,838.71 points at 1030 hours.

It showed a gain of 125.34 points or 0.61 per cent.

The NSE 50-share index Nifty also moved up by 7.05 points, or 0.11 per cent, to 6,175.40 at 1030 hours.

Infosys shares rose nearly 3 per cent after its Q3 results were announced before market hours today.

The company reported a 21.4 per cent increase in year-on year net profit at Rs 2,875 crore in the third quarter ended December 31.

Stocks: Top Gainers/Top Losers

Its quarter-on-quarter net profit grew 19.4 per cent to Rs 2,875 crore and revenue rose 0.5 per cent to Rs 13,026 crore in December quarter.

Other major gainers were - Wipro (1.28 pc), Sun Pharmaceuticals Industries (1.19 pc), Reliance Industries (RIL) (1.02 pc), Tata Consultancy Services (TCS) (0.86 pc) and Larsen & Toubro (0.72 pc).

Asian markets were trading mostly higher ahead of US jobs data due later in the day.

Key benchmark indices in Hong Kong, Singapore and Taiwan rose 0.13-0.35 per cent while indices in China, Japan and South Korea fell 0.18-0.6 per cent.

Also, foreign institutional investors (FIIs) sold shares worth a net Rs 3.74 crore yesterday, as per provisional data from the stock exchanges.