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Apr 24, 2012, 03.27 PM IST
The BSE Sensex extended gains amid choppy trade, helped by U-turn in index heavyweight Reliance Industries. Even European markets like France's CAC and Germany's DAX jumped 1% each post Spain sold bonds worth 1.2 billion euro, which was higher than 1.08 billion Euro bonds at previous auction. Britain's FTSE was up 0.5%.
Country's largest software services exporter Tata Consultancy Services climbed 13.6% amid extremely high volume as the company said it was confident to beat NASSCOM's upper end guidance of 11-14% for FY13. Wipro too extended gains, rising over 4% ahead of January-March quarter earnings that schedule to be announced tomorrow morning while rival Infosys was up nearly 2%.
ICICI Bank - India's largest private sector lender rose 0.7% whereas public sector lender State Bank of India was up 0.6%.
Coal India, country's largest coal mining company moved up 1.7% and FMCG major Hindustan Unilever gained 1%.
Even Reliance Industries turned positive. However, shares of Larsen & Toubro, Bharti Airtel, Bajaj Auto and DLF were down 1.5-2%.
In the second line shares, Hexaware Technologies, Graphite India, Essar Ports, Bata India and Voltas rallied 2.7-4.4%. However, Polaris Technology plunged 7% post disappointing numbers in Q4FY12.
United Phosphorous was down 6% as The Economic Times reported that Competition Commission of India has put a fine of Rs 252.4 crore on the company.
Rallis India dropped over 4% post dismal performance in the quarter ended March 31, 2012.
Kohinoor Foods and KRBL shot up 5-7% after China allowed imports of Indian basmati rice.
The BSE Sensex gained more than 100 points in afternoon trade amid volatility, supported by technology, banks and power stocks. The BSE IT Index rallied over 4.5% as technology stocks gained momentum quite strongly post fourth quarter earnings from TCS - top software services exporter.
The BSE Sensex gained somewhat strength amid choppy trade due to further upside in TCS, and a bit of recovery Reliance Industries and Infosys. However, the Indian rupee was moving towards the 53 level, which fell 32 paise to 52.81 a dollar.
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals