Money on the markets

A maturing market amid the mayhem

TCS leads Sensex over 15,000

July 20, 2009

The BSE Sensex extended gains on Monday to cross the 15,000 mark as hopes of recovery in corporate earnings boosted confidence worldwide.

The 30-share sensitive index swung from an intra-day low of 14,854 to an intra-day high of 15,209 and closed  446 points higher at 15,191. The fifty-share Nifty ended 2.91 percent higher at 4502.MARKETS-SOUTHASIA-STOCKS/

IT stocks rose on better-than-expected Q1 results by TCS, India’s largest IT exporter by sales, announced after trading hours on Friday. Shares in TCS ended 15.34 percent higher at 500.10 rupees.

On the sectoral front, the BSE IT Index rose 7.2 percent, followed by the Realty Index which ended 4.91 percent higher. However, the BSE FMCG Index closed 0.49 percent lower.

Shares in Reliance Industries, which challenged a lower court ruling to supply gas to Reliance Natural at below-market price, ended 5.03 percent higher, while Reliance Natural shares were down 2.6 percent.

Do you see the market uptrend continuing this week?

Comments

Sensex at 15,191 points is poised to make a new 52-week high.Sensex could hit 15,750 mark before the weekly close.

FIIs continue to drive the market.They have restarted to invest in emerging markets.India as a growth story is back into reckoning.It is being viewed less as a risky investment.

If Tisco and Suzlon GDR issues manage to get investors at a premium,more corporates will follow.

A rise in Reliance helped sensex to score a major gain today.A late buying interest in this counter showed that more juice is still left.

Posted by A.Kapoor | Report as abusive
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •