TCS, Infosys help Sensex close 156 points higher

August 23rd, 2011 - 7:02 pm ICT by IANS  

Mumbai, Aug 23 (IANS) A rally in heavyweight IT stocks — TCS and Infosys — helped a benchmark index for Indian equities markets Tuesday close 156 points higher. Positive cues from global bourses also lent support to a buying sentiment across the market breadth.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 16,446.85 points and closed at 16,498.47 points — up 156.77 points or 0.96 percent compared to its previous close at 16,341.7 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended in the positive, 1.02 percent up at 4,948.9 points.

Broader markets too closed in the green. The BSE midcap index moved up 0.95 percent, while the BSE smallcap index ended 1.16 percent higher.

IT, telecom and consumer durables stocks were among the major gainers in trade Tuesday.

Foreign institutional investors were, however, net sellers having offloaded stocks worth $166.73 million Tuesday, according to data available with the Securities and Exchange Board of India (SEBI).

Among gainers on the Sensex were: TCS, up 6.66 percent at Rs.979.50; Bajaj Auto, up 4.27 percent at Rs.1,545.35; Infosys, up 3.64 percent at Rs.2,274 and BHEL, up 2.65 percent at Rs.1,761.50.

The main losers included ONGC, down 2.65 percent at Rs.279.15; Cipla, down 2.59 percent at Rs.282.55; NTPC, down 2.03 percent at Rs.171.25 and Tata Motors, down 1.02 percent at Rs.729.15.

Asian markets closed higher Tuesday, helped by better than expected data on manufacturing growth from China and tracking overnight gains on Wall Street.

There were hopes that the Libyan political turmoil would soon be over and a new government would help in re-starting oil supplies.

The benchmark Japanese Nikkei closed 1.22 percent higher at 8,733.01 points while the Chinese Shanghai Composite index moved up 1.52 percent to close at 2,554.02 points.

Hong Kong’s Hang Seng ended 1.99 percent higher at 19,875.53 points.

European markets rose amid release of some comforting economic data and a positive stance adopted by some leading financial advisory firms on Euro zone equities.

The FTSE 100 of UK was ruling 1.26 percent higher at 5,159.38 points, while the German DAX rose 1.78 percent at 5,571.2 points.

The French CAC 40 was up 1.94 percent at 3,110.67 points.

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