BSE Sensex gains; US economy prospects bolster TCS, Infosys Ltd, Wipro share prices, outlook +ive

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BSE Sensex rose on Friday, sending indexes to their second consecutive weekly gains, as technology stocks such as Infosys Ltd extended a rally this year after data continued to signal a sturdier US economy. PTI BSE Sensex rose on Friday, sending indexes to their second consecutive weekly gains, as technology stocks such as Infosys Ltd extended a rally this year after data continued to signal a sturdier US economy. PTI
SummaryBSE Sensex rose on Friday, sending indexes to their second consecutive weekly gains.

expected filing applications for jobless benefits last week, casting a positive light on the labor market.

With positive global cues, BSE Sensex saw a strong performance with support by banks and IT stocks. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers. However, oil & gas and auto stocks were under selling pressure. Maruti, Reliance, BHEL and Bajaj Auto were laggards. The action has shifted to midcaps.

OUTLOOK: Going ahead as we end the year, we may see further action in midcap names on account of NAV shoring. Beyond that, momentum in FII flows would determine market direction. Most experts believe that the December inflation reading would be lower. This might encourage the RBI to maintain status quo on interest rates. Thus, with the tapering event behind us and diminishing possibility of rate hike, there are no major market disruptive events in the near-term. That leaves earnings, which would be closely watched and depending on the earnings announcement individual stocks would react.

Gaurang Shah, Assistant Vice President, Geojit BNP Paribas Financial Services Ltd:

Markets were in positive note throughout the day with buying visible at lower levels. BSE Sensex traded well above the 21200 mark and Nifty was trading above 6300. It was an encouraging start for the new series of F&O segment as it was the first day for the Jan 2014 contract.

All sectoral indices were in green the only exception was that of oil & gas which was down marginally. The border markets were much higher than the benchmark index indicating a strong market breath. We expect the markets to continue its upward move to 6385/6400 levels in the next week hence recommend buying on dips.

Activity on the institution side likely to be on the lower side due to calendar year end.

BSE Sensex rises 119 pts to nearly three-week high;IT, banks shine

(Reuters) BSE Sensex rose on Friday, sending indexes to their second consecutive weekly gains, as technology stocks such as Infosys Ltd extended a rally this year after data continued to signal a sturdier U.S. economy.

Infosys Ltd rose 1.2 percent, having earlier come close to hitting a record high of 3,573 rupees last hit on Dec. 20, after the Wall Street hit a new peak on strong data from the holiday shopping season and a fall in initial jobless claims.

The broader NSE index provisionally rose 0.56 percent, for a weekly gain of 0.61 percent.

The benchmark

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