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01-19-2010, 06:56 PM #1NιѕнyGuest
Led by banks & PSUs, Sensex gains 87 pts
[DOWN]The Sensex after a weak start, bounced back to close higher by 86.75 at 17,641.08 after hitting a high of 17,712.60 and a low of 17,505.50 during the session.
The largest software major TCS surged to all-time high of 816.40 in early trade after it beat street expectation on Friday with an over 33% jump in profit. The stock closed at Rs 799.60.
The third-biggest lender HDFC Bank climbed Rs 76.55 to Rs 1,767.55, after Morgan Stanley upgraded it to "overweight" from "equal-weight," saying lower credit-cost estimates are boosting earnings forecasts.
The National Stock Exchange index Nifty 50 rose by 22.65 to 5,274.85, after moving between 5,292.50 and 5,228.95.
Even as the stock markets in Asia remained weak, a better opening in Europe pushed the local markets in the last hour of trade.
Among the 30 Sensex counters, 19 gained while other 11 ended with losses. The bank and finance company stocks gained the most with the banking index rising 2.41% on expectations of better third quarter earnings. The second biggest gainer was PSU index with a 1.91% jump.
The auto index rose by 1.70%, consumer durables by 1.37%, IT index by 0.59%, and Tech index by 0.59% to 3,418.11. However, the upsurge was checked as stocks in healthcare, oil and gas, metal and power sectors closed with losses.
01-20-2010, 12:16 AM #2