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Shares in TCS gained nearly 5.5 percent on Tuesday after the firm had reported a good set of quarterly numbers on Monday evening after market hours.
TCS led the gains in the benchmark Sensex and rose to a record high after it beat street estimates and said it expected strong demand for outsourcing.
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Technology shares rose on Wednesday as Indian firms cheered robust results and guidance from U.S. peer Cognizant Technology Solutions.
Cognizant on Tuesday reported a profit that topped market estimates for the sixth straight quarter, helped by a surge in discretionary projects, and also raised its 2010 revenue outlook.
Patni Computer, the top gainer in the index, rose over 12 percent after the company announced a 14 percent rise in Q1 profits. A company official said it will seek acquisitions in Europe and the Asia-Pacific to help lower its dependence on the United States.
The 30-share sensitive index swung from an intra-day high of 15,234 to an intra-day low of 14,955 and closed 128 points lower at 15,062.
The BSE Sensex extended gains on Monday to cross the 15,000 mark as hopes of recovery in corporate earnings boosted confidence worldwide.
The BSE Sensex closed 1.37 percent higher on Thursday, tracking a rally in global markets on ebbing concerns about the health of the financial sector and the global economy.
Trade was volatile and the benchmark closed 164.19 points higher at 12,116.94, while the Nifty ended 1.62 percent higher at 3,683.90.
The Sensex seesawed and ended down 0.9 percent on Tuesday, snapping a three-day rising streak as investors booked profits and weak European markets dampened sentiments.
The benchmark index started off on a shaky note and ended Tuesday’s session with losses of 0.24 percent after briefly hitting positive territory on the finance minister’s comments to reduce factory gate duties and service tax.
The sectoral picture looked weak with all sectors closing in the negative. The BSE Metal Index lead the pack with losses of 2.3 percent and was closely followed by the Banking Index which ended down 1.3 percent.