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Journalism of Courage
IT stocks,led by TCS,advanced by over 4 per cent on the Bombay Stock Exchange on increased buying by investors.
Shares of sector major Tata Consultancy Services (TCS) surged by 4.24 per cent to close at Rs 1,136.65 on the BSE. In intra-day session,the stock gained 5 per cent to touch a high of Rs 1,144.95.
Besides,Wipro too displayed a good show,rising by 4.12 per cent to settle at Rs 450.25.
Brokers said investor sentiment strengthened after international rating agency Credit Suisse,upgraded Wipro Ltd’s rating to ‘outperform’ from ‘neutral’.
Recovery in stocks on the European markets also triggered buying activity on the domestic front,they added.
“Buying in the heavyweights like Wipro,TCS and Infosys lifted the markets’ sentiments,” IIFL Head of Research (India Private Clients) Amar Ambani said.
Infosys Technologies,which carries the maximum weightage on the Sensex after Reliance Industries,rose by 2.09 per cent to end at Rs 3,161.20.
The rise in the stock was significant in pushing the BSE benchmark Sensex higher by 226.79 points or 1.25 per cent to close the day at 18,438.31.
Further,shares of other IT companies too ended the day on a positive note. Tech Mahindra rose by 2.51 per cent,while HCL Technologies by 1.78 per cent.
Led by gains in these stocks,the BSE IT index became the top performer among the 13 sectoral indices and gained 2.76 per cent. It finally ended the day at 6,399.59.
