The Hindu : Business : Sensex recovers 46 points

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Sensex recovers 46 points

TCS up 6 % on robust June quarter earnings

MUMBAI: India's largest software exporter TCS' robust June quarter earnings revived dampened investor sentiment and drove the Bombay Stock Exchange benchmark index, Sensex up 46 points on Friday.

Below-expectation results by Infosys and HDFC had pulled down the market by 75 points in the previous two days.

However, TCS' over 24 per cent growth in profit for Q1 brought back optimism that India Inc would come out with promising earning numbers. The counter was on fire and closed up by a steep 6.16 per cent, the highest among Sensex stocks.

The improved sentiment helped the BSE 30-share index close at 17955.82, up 46.36 points.

Similarly, the National Stock Exchange's 50-share Nifty index gained 0.28 per cent to finish at 5393.90.

The jump in TCS drove other IT stocks, to post smart gains, pushing the BSE IT index about 100 points higher to 5459.Select buying in ICICI Bank, Reliance Communications, ONGC and HUL also helped the Sensex end with gains.

Rupee weakens

The Indian rupee weakened on Friday and closed with a loss of 17 paise at 46.77/78 per dollar against 46.60/61 on Thursday. It moved in the range of 46.61-46.84. — PTI

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