Mumbai: The BSE Sensex climbed 226.11 points to 80,123.45 in early trade on Friday. The Nifty went up 82.1 points to 24,398.05. The Equity benchmark indices rallied as buying was reported in IT stocks after Tata Consultancy Services on July 11 announced its June quarter earnings.
Sensex pack gainers: Tata Consultancy Services share price appreciated over 2 per cent after the Tata Group owned IT company reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. TCS is India’s largest IT firm. Other gainers: Tech Mahindra, Mahindra & Mahindra, Infosys, Axis Bank, Bajaj Finance, and HCL Technologies.
Laggards included, Bharti Airtel, Asian Paints, Maruti Suzuki, and ITC.
PTI quoted V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, saying that the indices jumped as TCS reported good numbers in the first quarter of 2024-25 and mood is positive in regards to IT stocks.
“The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks,” said V K Vijayakumar.
According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,137.01 crore on 11th July.
The BSE benchmark ended on a lower note by 27.43 points at 79,897.34 on July 11. The NSE Nifty closed marginally down 8.50 points to settle at 24,315.95.
World markets
Asian markets: Hong Kong is in Green while Seoul, Tokyo and Shanghai traded lower.
US markets ended mostly lower on July 11, 2024.
Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel.
Rupee trades flat
The Rupee traded flat at 83.53 against the US Dollar in early trade today amid firm crude oil prices and gains in domestic stocks. The Indian currency flat at 83.53 against the US dollar at the interbank foreign exchange market.
Forex dealers were of the opinion that the impact of firm crude oil prices was offset by overnight losses in the US dollar index and early gains in the domestic equity markets.
Stock Market today: The Sensex climbed 226.11 points to 80,123.45 in early trade on Friday. The Nifty went up 82.1 points to 24,398.05. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
