Sensex recovers by 100 points in early trade
Mumbai: The BSE benchmark Sensex recovered by 100 points in late morning trade Monday on renewed demand from investors in select counters, mainly banking and IT sectors, after IT giant TCS reported strong-than-expected December quarter results.
The 30-share Bombay Stock Exchange index, Sensex, opened lower by nearly 50 points before moving up to be quoted at 17,654.68 at 10.15 a.m., higher by 100.38 points or 0.57 percent from its last weekend`s close.
Share of the country`s largest IT exporter by sales Tata Consultancy Services rose by 1.46 percent to 803.35 after the announcement of the third quarter result.
The company had posted 33 percent jump in consolidated net profit at Rs 1,823.90 crore for the Q3.
The NSE 50-share Nifty also gained 15.65 points or 0.30 percent to 5,236.55 at the said time.
Asian stocks fell today after JP Morgan Chase & Co. reported a loss in retail banking, US consumer confidence trailed forecasts and commodity prices sank.
The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea and Taiwan rose between 0.11 percent and 1.83 percent.
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