IT leads rally Mumbai, Jan 14 (PTI) The Bombay Stock Exchange benchmark Sensex surged over 316 points at midsession today, the first gain in in five days following aggressive buying by funds in heavy-weight stocks led by the information technology pack.
IT leads rally Mumbai, Jan 14 (PTI) The Bombay Stock Exchange benchmark Sensex surged over 316 points at midsession today, the first gain in in five days following aggressive buying by funds in heavy-weight stocks led by the information technology pack. The 30-share barometer, which remained weak in the last five sessions after the Satyam fraud, surged 316.24 points at 9,387.60 at 1230 hrs on revival of buying after the IT major Infosys reported better-than-market expected earnings.
Infosys, India's second-largest software services firm, rose 2.8 per cent, extending yesterday's gains, while Tata Consultancy jumped 3 per cent, a day before the release of its earnings. Today's rally snapped a four-day, 12 per cent drop.
The Sensex's retreat following the disclosure of the accounting fraud at Satyam Computer was its steepest four-day fall. The wide-base National Stock Exchange's Nifty climbed 87.25 points to 2,832.20.
