The markets remained upbeat and the benchmark Sensex peaked by over 260 points in intra-day but pared most of the gains to settle the day higher by over 90 points.
MUMBAI: The markets remained upbeat and thebenchmark Sensex peaked by over 260 points in intra-day but pared most of the gains to settle the day higher by over 90 points.
The Bombay Stock Exchange 30-share index closed the day at 16,244.19, a rise of 90.53 points, or 0.56 per cent, from its previous close. The barometer had touched a high of
16,413.80 in early trade.
The broader 50-share S&P CNX Nifty of the National Stock Exchange improved by 7.65 points, or 0.16 per cent, to close at 4,887.30 from its last close.
Asian markets also closed higher. Indices in Japan, Taiwan, Singapore and South Korea were up about 1.0 to 1.5 per cent. European markets traded in the green in early trade.
Marketmen said IT giant Infosys Technologies's improved guidance for next year boosted the stock markets for another day today. However, the Sensex dropped a major portion of day's gains as investors in second half booked profits at current higher levels keeping in view the long weekend due to a holiday on Friday.
They said investors looked optimistic of the earning season after the Infosys posted a profit growth and gave
improved outlook for medium to long term despite rupee's appreciation against dollar.
The IT bellwether's projection has somehow offset the lingering fears about a US recession in the last fiscal, they added. Besides, positive global cues also boosted the investor
sentiments.
After lifting key index to above 16k level yesterday, the IT stocks hogged the limelight again today and pushed the BSE IT Index by 3.73 per cent. While Infosys Tech gained by another 5.90 per cent, Wipro shot up 5.35 per cent.
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