The BSE benchmark Sensex recovered by 100 points in late morning trade today on renewed demand from investors in select counters, mainly banking and IT sectors, after IT giant TCS reported strong—than-expected December quarter results.
The 30-share Bombay Stock Exchange index, Sensex, opened lower by nearly 50 points before before moving up to be quoted at 17,654.68 at 1015 hours, higher by 100.38 points or 0.57 per cent from its last weekend’s close.
Share of the country’s largest IT exporter by sales Tata Consultancy Services rose by 1.46 per cent to 803.35 after the announcement of the third quarter result.
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The company had posted 33 per cent jump in consolidated net profit at Rs 1,823.90 crore for the Q3.
The NSE 50-share Nifty also gained 15.65 points or 0.30 per cent to 5,236.55 at the said time.
Asian stocks fell today after JP Morgan Chase & Co. reported a loss in retail banking, US consumer confidence trailed forecasts and commodity prices sank.
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The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea and Taiwan rose between 0.11 per cent and 1.83 per cent.