Mumbai. Domestic stock markets regained momentum on Friday due to a sharp rise in the shares of IT giant Infosys and major indices closed with slight gains two days later. Sensex rose 188 points while Nifty rose 29 points. BSE’s benchmark index Sensex based on 30 shares closed at 83,570.35 points with a gain of 187.64 points or 0.23 per cent after two consecutive trading sessions of decline.
At one point during trading, it jumped 752.26 points to reach 84,134.97 points. At the same time, NSE’s 50-share standard index Nifty rose 28.75 points or 0.11 percent and closed at 25,694.35 points. Among the companies included in the Sensex group, Infosys shares registered the highest rise of 5.67 percent.
Infosys’ operating revenue in the December quarter increased by 8.9 percent to Rs 45,479 crore. The company has increased the revenue growth estimate for the current financial year to 3-3.5 percent. Apart from this, Tech Mahindra, HCL Tech, State Bank of India, UltraTech Cement and HDFC Bank were also major gainers.
On the other hand, shares of Eternal, Asian Paints, Bharat Electronics, Sun Pharma and Maruti declined. Vinod Nair, Head of Research, Geojit Investments Limited, said, “The market showed a positive trend due to better quarterly results of IT and medium banking stocks. However, profit-booking in the last hour of the trading session limited the momentum.”
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,781.24 crore on Wednesday while domestic institutional investors (DIIs) bought shares worth Rs 5,217.28 crore. Trading in the stock market was closed on Thursday. Markets remained closed due to voting for municipal elections in Maharashtra.
In Asian markets, South Korea’s Kospi index closed with gains, while Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in the loss. European markets were trading with losses. American markets closed with gains on Thursday. Brent crude, the international oil benchmark, rose 1.05 percent to $64.43 a barrel.
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