BSE Sensex up 125 points on rise in IT stocks

Jan 10 2014, 19:57 IST
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Infosys Ltd gains after the company posted a 21 per cent rise in quarterly net profit, beating analysts' estimates. Infosys Ltd gains after the company posted a 21 per cent rise in quarterly net profit, beating analysts' estimates.
SummaryHowever, shares of banks fall ahead of key wholesale and consumer price data next week.

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.

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