A maturing market amid the mayhem
Sensex gains nearly 3 pct, Infosys slips
This was the benchmark’s eighth successive rise — its longest winning streak in 18 months.
The rise was led by heavyweight stocks like Reliance Industries (up 3.1 percent), ICICI Bank (up 6.7 percent) and L&T (up 6.6 percent).
Infosys Technologies, the country’s second-largest software services exporter, declared its fourth quarter numbers today. It reported a higher-than-expected 29 percent jump in profits but forecast its first decline in annual revenue as demand from overseas clients slowed.
Shares in Infosys slipped 2.7 percent in trade.
Top benchmark gainers included BHEL, DLF and Tata Motors, gaining in the range of 9.4–11.5 percent.
The realty index surged 8.7 percent. Ansal Properties jumped 17 percent, Unitech rose 14.8 percent while DLF climbed 10 percent.
The markets continue to be on a roll. Do you think the general elections kicking off on April 16 would act as a dampener? Or will we see the Sensex touch 12,000?