Sensex closes over 300 points up

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Sensex soars by 409 pointsSensex sheds early gains as RIL tumblesSensex closes below 17,000 levelSensex nosedives by over 200 pts

Mumbai: than half in 2008 in its worst performance ever.

Still, there could be negative surprises, he said.

Earnings of the top-30 BSE index companies are expected to drop 0.2 per cent on year, compared with a growth of 5.5 per cent in the September quarter, Morgan Stanley said in a research note.

It would be the first year-on-year dip in quarterly earnings for the benchmark index since 1999, it said.

The earnings parade will be kicked off by private sector lender Axis Bank on Friday, followed by IT bellwether Infosys Technologies on Jan. 13.

Embattled Satyam Computer Services fell 6 per cent to 166.90 rupees on concerns that corporate governance issues could hit new business.

Traders said wary investors were also paring positions after the stock rose more than 50 per cent from its lows on Dec. 24.

In the broader market 1,686 gainers led 866 losers on heavy volume of 391 million shares.