Infosys, banking stocks boost markets; Sensex rises 685 points

Infosys, banking stocks boost markets; Sensex rises 685 points


Equity benchmarks Sensex and Nifty ended over 1 per cent higher on Friday, helped by heavy buying in Infosys and banking stocks amid a rally in global stock markets.


Photograph: Shailesh Andrade/Reuters

The 30-share BSE Sensex jumped 684.64 points or 1.20 per cent to settle at 57,919.97.

During the day, it rallied 1,199.79 points or 2.09 per cent to 58,435.12.


Similarly, the broader NSE Nifty climbed 171.35 points or 1.01 per cent to end at 17,185.70.

From the Sensex components, Infosys jumped nearly 4 per cent, followed by HDFC Bank, HDFC, HCL Technologies, Larsen & Toubro, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance and State Bank of India.

Among the laggards were Mahindra & Mahindra, Asian Paints, Reliance Industries, Wipro, Bharti Airtel and Power Grid.

India’s second largest IT services company Infosys on Thursday posted a better-than-expected 11 per cent rise in consolidated net profit at Rs 6,021 crore for the September quarter and announced buyback of shares worth Rs 9,300 crore.

In Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended higher. Wall Street had ended significantly higher on Thursday.

International oil benchmark Brent crude was trading 0.81 per cent lower at $93.80 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the Indian capital market on Thursday as they offloaded shares worth Rs 1,636.43 crore, as per exchange data.


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