Sensex jumps 267 points tracking global cues, strong earnings

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Mumbai: The equity benchmark Sensex rallied for the fourth straight session Wednesday, and jumped 267 points, on encouraging second quarter earnings by tech major Infosys and positive global cues. The 30- share Sensex soared 267.26 points, or 0.76 per cent, to 35,429.74. It had rallied 1,161 points in the previous three sessions.

The broader NSE Nifty was quoting well above the key 10,600-mark. Nifty was up 81.70 points, or 0.77 per cent, to trade at 10,666.45. Traders said the bullish movement was in line with upbeat Asian shares, following overnight gains at the Wall Street coupled with encouraging earnings by Infosys. Reliance Industries is scheduled to announce its second quarter earnings later in the day. Reflecting the bullish mood, all the sectoral indices, led by teck, bankex and realty were trading in positive zone with gains up to 1.47 per cent.

Infosys emerged the top gainer in the Sensex pack, by surging 2.68 per cent after the company Tuesday posted a 10.3 per cent jump in its September quarter consolidated net profit at Rs 4,110 crore, helped by strong deal pipeline and traction in digital revenues. Other big gainers were ICICI Bank, SBI, Yes Bank, Adani Ports, HUL, Vedanta Ltd, IndusInd Bank, Maruti Suzuki, HDFC Bank, Asian Paint, Axis Bank, Coal India, TCS, Bajaj Auto, PowerGrid, Kotak Bank, Bharti Airtel, RIL, Tata Motors, HDFC Ltd, ITC Ltd and Sun Pharma, rising by up to 1.35 per cent.

Domestic institutional investors bought shares worth Rs 1,059.44 crore, as per provisional data available on the BSE. Japan’s Nikkei rose 1.53 per cent, Korea gained 1.19 per cent, while Shanghai Composite up 0.10 per cent. Taiwan too rose 0.80 per cent. Financial markets in Hong Kong are closed today. The US Dow Jones Industrial Average ended 2.17 per cent up on Tuesday on the back of strong earnings and solid economic data.