Markets rebound on buying in TCS, Infosys

The rupee depreciates by 2 paise to close at 83.05 against the US dollar

MUMBAI:

Benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Tuesday following buying in IT giants TCS and Infosys, foreign fund inflows and positive global trends.

After a firm opening, the 30-share BSE Sensex climbed 454.67 points or 0.63 per cent to settle at 72,186.09. As many as 19 Sensex shares advanced and 11 declined. During the day, the barometer jumped 529.98 points or 0.73 per cent to 72,261.40.

The Nifty gained 157.70 points or 0.72 per cent to close at 21,929.40, driven gains in BPCL, HDFC Life and HCL Tech.

Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.

Bharti Airtel climbed over 2 per cent after the company on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore for the December quarter, mainly on account of growth in highvalue customers.

Power Grid, IndusInd Bank, ITC, Kotak Mahindra Bank,

Bajaj Finserv and Axis Bank were among the laggards.

The market capitalisation (mcap) of BSE-listed companies went up by Rs 4,21,755.4 crore to reach a lifetime peak of Rs 3,86,83,270.93 crore.

In the broader market, the BSE smallcap gauge climbed 1.23 per cent and midcap index jumped 1.06 per cent.

Among the indices, oil & gas zoomed 3.02 per cent, IT jumped 2.94 per cent, teck climbed 2.74 per cent, telecommunication went up by 2.17 per cent, energy (2.07 per cent), auto (1.65 per cent) and capital goods (1.61 per cent). Utilities, power and bankex were the laggards.

A total of 2,353 stocks advanced while 1,508 declined and 83 remained unchanged.

The rupee declined 2 paise to close at 83.05 against the US dollar on Tuesday, amid a firm American currency against major currencies overseas.

Foreign Institutional Investors (FIIs) bought equities worth Rs 518.88 crore on Monday, according to exchange data.

The BSE benchmark declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on Monday.

The Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70.