Thaindian News

Mumbai, July 13 (IANS) A benchmark index of Indian equities markets rose 52 points in afternoon session Friday, led by good buying support in TCS, Gail India and HDFC Bank.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 17,269.20 points, was ruling at 17,285.26 points, up 0.31 percent or 52.71 points from its previous day close at 17,232.55 points.

The Sensex touched a high of 17,342.88 points in the intra-day.

The benchmark Sensex had slumped 1.47 percent or 256.59 points Thursday due to disappointing earnings forecast announced by IT bellwether Infosys.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange was ruling 0.30 percent or 15.75 points higher at 5,251 points. The Nifty had plunged 1.34 percent or 71.05 points Thursday.

The country’s largest software services exporter Tata Consultancy Services rallied 2.01 percent at Rs.1,261 a day after announcing better than expected first quarter earnings. TCS has announced 38 percent jump in its net profit for the quarter ended June 30.

Other major Sensex gainers were: Gail India, up 1.61 percent at Rs.365.95; HDFC Bank, up 1.53 percent at Rs.588.70; Cipla, up 1.18 percent at Rs.330.25; and Hero MotoCorp, up 1.16 percent at Rs.2,082.50.

Infosys, India’s second largest software firm, declined for the second day after announcing disappointing earnings forecast. Infosys was down 0.70 percent at Rs.2,249.50.

Infosys lowered its revenue forecast in dollar terms for the current financial year to $7.34 billion from its earlier estimate of $7.6 billion.

Among the major Sensex losers were: Jindal Steel, down 1.43 percent at Rs.438.50; Maruti Suzuki, down 0.92 percent at Rs.1,184; Tata Power, down 0.69 percent at Rs.100.10; and Sun Pharma, down 0.64 percent at Rs.617.05.