Sensex climbs 226 points in early deals on buying in IT stocks after TCS earnings
The Hindu
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Equity benchmark indices rallied in early trade on Friday, July 12, 2024, amid buying in IT stocks after TCS announced its June quarter earnings.
The 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The NSE Nifty went up by 82.1 points to 24,398.05.
Among the Sensex pack, Tata Consultancy Services climbed over 2 per cent after the country's largest IT services player reported 8.7 per cent growth in the June quarter net profit at ₹12,040 crore.
Infosys, Axis Bank, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers.
Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards.
"The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
In Asian markets, Hong Kong quoted higher while Seoul, Tokyo and Shanghai traded lower.