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  1. Infosys, TCS rally steer Sensex to end 161 points higher, Nifty mounts 10,459 ahead of inflation data

Infosys, TCS rally steer Sensex to end 161 points higher, Nifty mounts 10,459 ahead of inflation data

Indian stock markets ended higher with the key equity indices Sensex and Nifty finishing in the positive territory for the sixth straight session on Thursday ahead of the release of macroeconomic data including the inflation numbers for the month of March.

By: | Published: April 12, 2018 5:00 PM
During the day, the benchmark Sensex shuttled between the range of 34,177.44 and 33,924.88 on Thursday. (Image: Reuters)

Indian stock markets ended higher with the key equity indices Sensex and Nifty finishing in the positive territory for the sixth straight session on Thursday ahead of the release of macroeconomic data including the inflation numbers for the month of March. Shares of IT companies such as IT giants Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech surged heavily ahead of the financial results of Infosys for the quarter and the year ended 31 March 2018. On the other hand, most of the regional Asian stock markets ended down on Thursday on the back of rising crude oil prices. BSE Sensex added 160.69 points or 0.47% to finish the day at 34101.13 whereas NSE Nifty concluded at 10,458.65, up by 41.5 points or 0.4%. During the day, the benchmark Sensex shuttled between the range of 34,177.44 and 33,924.88 on Thursday.

Shares of HCL Tech gained 4.1% to Rs 1,007; TCS surged 4.04% to Rs 3,136; Infosys rose 3.54% to Rs 1,164.05 and Tech Mahindra advanced 3.03% to Rs 652.55 on NSE. Other than these IT scrips, shares of Axis Bank, Bharti Infratel, Wipro, ICICI Bank, HDFC, Kotak Mahindra Bank and Asian Paints gained up to 1.2% while shares of ICICI Bank, Lupin, Dr Reddy’s, Tata Steel, Sun Pharma, Ultratech Cement, Adani Ports, Bharti Airtel, State Bank of India, ITC and Maruti Suzuki lost 1 to 2.5% on Thursday.

Asian and European markets slipped Thursday as investors digested the latest Fed minutes while geopolitical concerns overshadowed sentiment after US President Donald Trump struck a defiant tone on the Middle East conflict, Associated Press said in a report. Among the Asian markets, Japanese Nikkei ended down 0.1% at 21,660.28 South Korean Kospi finished 0.1% lower at 2,442.71, Hong Kong’s Hang Seng inched lower by 0.2% to 30,831.28 and the Chinese Shanghai Composite dipped 0.8% to 3,180.16 on Thursday.

Meanwhile, oil markets edged back from highs last reached in late 2014 as ample supplies weighed, but prices were underpinned by worries over military escalation in Syria and trade tensions between the United States and China, Reuters said in a report. Both Brent and WTI on Wednesday hit their highest since late 2014 at $73.09 and $67.45 a barrel respectively after Saudi Arabia said it intercepted missiles over Riyadh and U.S. President Donald Trump warned Russia of imminent military action in Syria, Reuters report added.

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