Sensex jumps 400 points, Nifty above 10700

The key markets indices opened on a positive note on Wednesday morning amid the strengthening rupee . The BSE Sensex opened at 35,543.38 and gained 398.84 points or 1.13 per cent within minutes of trading. The Nifty50 opened at 10,550.15 and gained  with a gain of 113.70 points or 1.07 per cent, touching 10,700.

Sensex jumps 400 points, Nifty above 10700

The key markets indices opened on a positive note on Wednesday morning amid the strengthening rupee . The BSE Sensex opened at 35,543.38 and gained 398.84 points or 1.13 per cent within minutes of trading. The Nifty50 opened at 10,550.15 and gained  with a gain of 113.70 points or 1.07 per cent, touching 10,700.

The rupee too strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling of the American currency by exporters and banks.

The markets were upbeat after India's second-largest software services exporter Infosys on Tuesday posted a better-than-expected 10.3 per cent net profit growth in the second quarter after margins were boosted by large deal wins and reiterated its revenue forecast for full year.

Net profit in July-September rose to Rs 4,110 crore, or Rs 9.45 per share, from Rs 3,726 crore, or Rs 8.15 a share, a year ago, the company said in a statement. Revenue from operations grew 17.3 per cent to Rs 20,609 crore. 

Reliance Industries Tuesday again surpassed IT major TCS to become the country's most valued firm by market valuation.

At close of trade Tuesday, RIL's market capitalisation (m-cap) stood at Rs 7,37,576.57 crore on the BSE, which was Rs 1,471.26 crore more than that of Tata Consultancy Services' Rs 7,36,105.31 crore valuation.

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