Riding on a wave of ample liquidity, the 30-share Sensex of the Bombay Stock Exchange (BSE) continued its march towards 19K on Thursday. This was despite the fact that IT major Infosys Technologies disappointed the market with a lower-than-expected upward revision in its earnings per share (EPS) guidance for financial year 2007-08 (FY08).
After opening firm, the Sensex slipped into negative territory after receiving news of Infosys?s performance. However, in the mid-noon session, strong closing by Asian markets lifted the Sensex amid the high level of volatility to its new 52-week high of 18,832.65 points. After witnessing an intra-day volatility of 296 points, the BSE benchmark closed the day at 18,814.07 points, up 155.82 points or 0.84%. The broader Nifty also closed at an all-time high at 5,524.85 points, gaining 83.40 points or up 1.53%.
Interestingly the BSE small and mid?cap index outperformed the BSE Sensex. The BSE mid-cap closed the day with gains of 106.24 points or up 1.42% at 7,590.60 points, while the BSE small ? cap closed with gains around 98 points or up 1.08% at 9,120.38 points.
The dampening numbers posted by Infosys bruised the BSE IT index badly as it fell by 5.59%, lead by Infosys.
The Infosys stock corrected by almost 7%, falling by Rs 148.55 to close at Rs 1,976.
Foreign Institutional Investors went soft on their buying spree as provisional figures released by the stock exchanges indicated that they were net buyers to the tune of Rs 794.78 crore.
Domestic institutions, on the other hand, remained net sellers to the tune of Rs 420.11 crore.
