Indian equities move into positive zone in afternoon tradeApril 15th, 2008 - 3:06 pm ICT by admin
Mumbai, April 15 (IANS) Indian equities, which had been in the negative zone Tuesday morning, moved into positive territory by the early afternoon. IT stocks gained after Infosys reported good results from the last quarter of fiscal 2007-08. But banking stocks continued to struggle. Other Asian markets that had opened before the Indian markets, were mixed.
At 12:45 p.m., the 30-share index of the Bombay Stock Exchange (BSE), the Sensex, was up 1.20 percent at 15,997.49. The index gained 189.85 points from Friday’s closing figure after having lost 234.61 points in the morning when it hit a low of 15,573.03.
At the same time, the S&P CNX Nifty was up 81.15 points or 1.70 percent at 4,858.95.
The market breadth turned positive on BSE; 1,198 stocks gained, 928 declined and 56 were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 3.56 percent at Rs.1,473.10 after the company reported a 1.4 percent rise in consolidated net profit to Rs.12.49 billion.