Markets recover; Sensex gains 233 pts

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SME Times News Bureau | 04 Jul, 2013
A benchmark index of the equities markets Thursday closed over 233 points higher as funds resumed buying at prevailing low levels mainly in IT sector stocks, amid firm global cues.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) commenced the day on a firm note at 19,348.01 and rose further by 233.08 points, or 1.22 percent, to close at 19,410.84.

Sensex had lost 400 points in the last two sessions.

Similarly, the wide-based National Stock Exchange index Nifty gained 66.05 points, or 1.14 percent, to close at 5,836.95.

Also, SX40 index, the flagship index of MCX-SX, closed 152.2 points, or 1.33 percent higher at 11,565.58.

Country's top two software exporters Tata Consultancy Services and Infosys, which get more than half of their revenues from the US and European countries, surged remarkably on the dollar gaining against the rupee.

While TCS shot up by 3.26 percent to Rs 1,534.15, Infosys by 2.29 percent to Rs 2,460.50.

The third biggest software exporter Wipro rose by 2.13 percent to Rs 350.75.

A firming trend in the global markets after better-than- estimated US jobs data added to signs of recovery in the world's largest economy, also boosted the earnings outlook for exporters, brokers added.

Out of the 30 BSE index components, 20 stocks gained led by ITC surging 3.74 percent to Rs 338.50.