Sensex fails to maintain initial gains, still up 147 points

July 12, 2013 10:00 am | Updated June 08, 2016 12:02 pm IST - Mumbai

Mumbai 05/08/2011  Stockbrokers react as they monitor share prices during intraday trade at a brokerage firm in Mumbai on August 5, 2011. The Bombay Stock Exchange sensex  fell to 387 points.   Photo:  Vivek Bendre

Mumbai 05/08/2011 Stockbrokers react as they monitor share prices during intraday trade at a brokerage firm in Mumbai on August 5, 2011. The Bombay Stock Exchange sensex fell to 387 points. Photo: Vivek Bendre

Surrendering over half of its early gains, the BSE benchmark Sensex on Friday rose by 147 points in late morning trade on the back of buying in IT and technology sectors as Infosys posted better than expected first quarter earnings.

Infosys jumped over 13 per cent after the company retained its guidance of 6 to 10 per cent growth in revenue in dollar terms for the year ending March 31, 2014, after announcing Q1 June 2013 results before trading hours.

The 30-share index opened higher at 19,898.69 points and moved up further to 19,962.78, but declined afterwards to 19,785.59 before quoting 19,822.74 at 1025 hours.

It still showed a gain of 146.68 points or 0.75 per cent from its last close.

The NSE 50-share barometer Nifty also rose by 26.35 points, or 0.44 per cent, to 5,961.45 at 1025 hours.

Other major gainers were TCS (2.73 pct), Wipro (2.42 pct), Tata Motors (0.98 pct) and HDFC (0.74 pct).

However, Maruti Suzuki dropped by 2.12 per cent, Cipla 1.33 pct, HDFC 1.17 pct, ITC 1.15 pct and Coal India 1.12 pct.

Foreign institutional investors (FIIs) bought shares worth a net Rs. 638.26 crores, as per provisional data from the stock exchanges.

Most Asian stocks fell in their early trade. Key indices in China, Hong Kong, Singapore and South Korea fell by 0.38 to 0.6 per cent while indices in Indonesia and Japan rose by 0.1 to 0.13 per cent.

US stocks surged to an all—time high on Thursday after the Federal Reserve chairman Ben Bernanke said the central bank will keep supporting the economy.

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