Heavyweights among information and technology (IT) stocks lifted equity indices up on Friday following the financial results announced by Infosys Technologies, which beat street expectations.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) closed up by 282.41 points to end at 19958.47 as the BSE’s IT index surged by a whopping 6.46 per cent, followed by technology by 5.13 per cent, capital goods 1.95 per cent and health care 1.08 per cent.
On the National Stock Exchange (NSE), the 50-share Nifty closed at 6009 with a gain of 73.90 points.
“The 4.1 per cent volume growth and 3.4 per cent constant currency growth were the highlights of the quarter. The better-than-expected revenue growth resulted in margins also coming in slightly ahead of expectations. The company has also increased the guidance on a constant currency basis, which is a positive,” said Dipen Shah, Head of Private Client Group Research, Kotak Securities on Infosys results.
The rupee closed at 59.56/57 per dollar compared to its previous close of 59.67/68 on Thursday. The rupee recorded its historical low of 61.21 per dollar on last Monday.
The rupee strengthened following the measures by the financial regulators to curb speculative trade in the foreign exchange market.