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Sensex Edges Higher, Nifty Near 9,800; Infosys Up 1%

Shares of Infosys crashed around 15 per cent in the past two sessions.

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Sensex Edges Higher, Nifty Near 9,800; Infosys Up 1%

The Sensex rose over 200 points in early trade.


The BSE benchmark Sensex rebounded over 200 points in early trade on Tuesday but later gave up some gains. Infosys rose around 1 per cent after suffering steep losses in the previous two sessions. The NSE Nifty went past the 9,800 mark on fresh buying by investors amid a firming trend in Asian markets. Gains were led by oil & gas, metal, IT, consumer durables, teck, PSU, healthcare and auto leading the recovery. The Sensex had lost 536.61 points in the previous two sessions.

Brokers said emergence of buying coupled with a positive trend in other regional markets following overnight gains in the US influenced sentiments here.  Stocks of Infosys, country's second largest software exporter, which had crashed over 15 per cent in the past two sessions after Vishal Sikka's surprise resignation last Friday as CEO, recovered by 1.05 per cent to trade at Rs 882.70.

Other gainers were Lupin, Axis Bank, Wipro, Tata Motors, Sun pharma, Hindustan Unilever, ONGC, Coal India, Cipla, Dr Reddy's, Bharti Airtel and Reliance Industries.

Among other Asian markets, Hong Kong's Hang Seng was up 1.06 per cent, while Shanghai Composite Index gained 0.15 per cent in early trade today. Japan's Nikkei too rose 0.07 per cent. The US Dow Jones Industrial Average ended 0.13 per cent higher in yesterday's trade. 

The rupee meanwhile  advanced by 8 paise to 64.06 against the US dollar in early session today on increased selling of the US currency by exporters and banks. Besides, the dollar's weakness against major currencies overseas and a higher opening in domestic stocks kept the domestic unit in good spirit, forex dealers said.

Yesterday, the rupee had ended marginally higher at 64.14 against the US currency due to some dollar demand from importers and corporates.

At 10 am, the Sensex was up nearly 100 points while Nifty was near 9,800.(With Agency Inputs)


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