Sensex rises for fourth straight session, trading above 18,800
Mumbai: The BSE benchmark Sensex on Thursday rose by over 74 points in early trade on emergence of selective buying by funds, after country's largest software exporter TCS posted encouraging fourth quarter results.
The 30-share barometer gained by 74.46 points, or 0.40 percent, to 18,805.62 with IT, oil and gas, healthcare, capital goods and realty sector stocks leading the recovery. The index had shed 13.17 points in yesterday's volatile session.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 13.55 points, or 0.24 percent, to 5,702.25.
Stocks of Tata Consultancy Services (TCS) rose 1.76 percent to Rs 1,485, after the company yesterday reported a 22.1 percent jump in net profit at Rs 3,596.9 crore for January- March quarter.
Brokers said besides encouraging corporate earnings, data showing that FIIs were net buyers in yesterday's trade on the bourses also influenced the trading sentiment.
Meanwhile, in Asia, Japan's Nikkei fell by 0.32 percent, while Hong Kong's Hang Seng index shed 0.16 percent in early trade. The US Dow Jones Industrial Average ended 0.94 percent lower in previous session after disappointing earnings reports.