Business

Sensex jumps 420 points, Infosys stock up 9 pc post Q1 numbers

Mumbai: Equity benchmark indices closed 1 per cent higher on Thursday led by smart gains in IT stocks.

The BSE S&P Sensex wound up the volatile trading session 420 points or 1.16 per cent higher at 36,472 while the Nifty 50 edged higher by 122 points or 1.15 per cent at 10,740.

Except for Nifty realty, all sectoral indices at the National Stock Exchange were in the green with Nifty IT up by 2.8 per cent, pharma by 1.6 per cent, auto by 1.1 per cent and private bank by 1 per cent.

Among stocks, IT software major Infosys spurted by 9.5 per cent to Rs 910 per share after posting 12 per cent year-on-year growth in its net profit at Rs 4,233 crore for the quarter ended June 30.

HCL Technologies gained by 3 per cent to close at Rs 634 per share. Pharma majors Cipla and Dr Reddy's were up by 5.5 per cent and 2.7 per cent respectively while FMCG giants Britannia and Nestle India ticked up by 3.6 per cent and 3.2 per cent.

The other prominent gainers were Bharat Petroleum Corporation, Mahindra & Mahindra, IndusInd Bank and JSW Steel.

However, Bharti Infratel dived by 7 per cent to close at Rs 189.60 per share while Tech Mahindra, ITC, Indian Oil Corporation, Coal India and NTPC traded with a negative bias.

Meanwhile, Asian markets were in the red with Japan's Nikkei slipping by 0.76 per cent, Hong Kong's Hang Seng by 2 per cent and South Korea's Kospi by 0.82 per cent.

Investors awaited the outcome of EU leaders' summit later this week on stimulus and deepening fiscal integration amid the corona virus crisis. 

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