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Sensex up 93 points; Infosys up 15% as bulls throng the counter

Source : SIFY
Last Updated: Fri, Jan 11, 2013 06:31 hrs
BSE Sensex rises in choppy trade

Information technology stocks, led by Infosys, are trading firm even as the broad market shows some signs of easing down to lower levels past mid morning. FMCG, ooil an power stocks are among the notable losers.

Shares from banking, healthcare, realty and capital goods sectors are also off their highs, and a few of them have even drifted down into negative territory. Automobile and metal stocks are trading mixed, while consumer durables stocks are finding good support.

The Sensex, which rose declined to around 19,727.12 after rising to 19,839.80 in early trades, is currently at 19,756.80, up 93.25 points or 0.47% from its previous close. The Nifty index of the National Stock Exchange is up 18 points or 0.3% at 5986.65, more than 30 points off the day's high of 6018.85.

Buoyed by better than expected quarterly results and encouraging earnings guidance, Infosys is trading stronger by about 15% at Rs 2671 now. Wipro and Tata Consultancy Services are up 3.7% and 3.5%, respectively. HCL Technologies, Tech Mahindra, Hexaware, Mahindra Satyam, MindTree, Polaris, CMC, Rolta India, NIIT Technologies, Mphasis, Oracle Financial Services and KPIT Cummins are also up in positive territory with impressive gains.

Infosys tops the chart, clocking a turnover of over Rs 1660 crore on a volume of around 6.37 million shares on the National Stock Exchange. Tata Consultancy Services ranks second in the chart, clocking a turnover of around Rs 186 crore.

Among the non-IT stocks in the Sensex, Sesa Goa, Maruti Suzuki, Lupin, Cairn India and Tata Steel are trading in positive territory, gaining 0.5% - 1.5%.

ONGC and BPCL are trading lower by over 2%. Sun Pharmaceutical Industries, ITC, Reliance Infrastructure, Tata Power, Hindustan Unilever, HDFC, Grasim Industries, Ambuja Cements, Kotak Bank, GAIL India, Asian Paints and IDFC are down 1% - 2%.

According to the data released by the government this morning, industrial production contracted to 0.1% in November from a year earlier. The output was 8.2% in October. While manufacturing sector saw a growth of 0.3% as compared to 6.6% (year-on-year), capital goods and mining sectors contracted by 7.7% and 5.5% respectively, as against a contraction of 4.7% and a growth of 3.5%, respectively in the year ago period.

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