Sensex climbs 183 points; Infosys up 5%

Mumbai: In a volatile trade, the stock market benchmark Sensex on Friday soared higher by 183 points, led by gains in IT stocks as Infosys beat market expectations with a robust set of quarterly results.

 After opening on a strong note, the 30-scrip BSE index touched a high of 27,507.67 points in early trade amid firm global trends, but the markets saw heavy profit booking in late afternoon session in realty, infrastructure, power, banking capital goods and metal stocks.

This pulled down the index to the day’s low of 27,119.63 points.

The BSE barometer finally closed with a rise of 183.67 points, or 0.67 % to 27,458.38. The gauge had gained 365.89 points on Thursday on the back of encouraging US data and recovery in crude oil price.

The broad-based Nifty of the National Stock Exchange also regained the psychological 8,300-mark in early trade, but succumbed to profit-booking later and dipped to a low of 8,190.80, before finally ending the day 49.90 points, or 0.61 % higher at 8,284.50.

Strengthening rupee, which appreciated further to over four-week high of 62.35 levels intra-day against the US dollar today, also buoyed trading sentiments, brokers said.

Shares of Infosys, India’s second-largest IT firm jumped 5.02 % to Rs 2,073.60 after the software major reported a 13 % growth in consolidated net to Rs 3,250 crore for the quarter ended December 31, 2014.

Increasing its focus on software products and new age solutions like Artificial Intelligence, Internet of Things, Infosys also said it has expanded its innovation fund from the $100 million to $500 million, which will be used to invest in young firms world-wide.

The blue-chip stock emerged as the second top performer among the front-line scrips on both the Sensex and Nifty during the session.

Meanwhile, buying was also seen in other IT stocks with TCS rising 2.80 %, to Rs 2,512.20 and Wipro gaining 1.54 %, to close at Rs 553.45.

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