Financials News

Sensex jumps for 2nd day, up 276 points, Infosys shapes up

Sensex jumps for 2nd day, up 276 points, Infosys shapes up

Mumbai: Equities showed renewed strength for the second day on Wednesday after the Sensex closed over 276 points higher, fuelled by Infosys and Dr Reddy’s, in line with a firming global trend amid buying push from domestic investors. The broader NSE Nifty recaptured the key 9,800-mark.

Firming global stocks and uninterrupted buying kept the pitch conducive, traders said. Revival of buying interest in the recently battered Infosys, banking and financial stocks drove the market higher, they added.

The 30-share Sensex stayed in the positive zone all throughout and hit a high of 31,593.39 before settling up 276.16 points, or 0.88 per cent, at 31,568.01. The gauge had gained 33 points yesterday.

The 50-share Nifty too rose 86.95 points, or 0.89 per cent, to close at 9,852.50 after scaling a high of 9,857.90. It hit a low of 9,786.75.

Overnight gains at Wall Street amid growing optimism over a market-friendly US tax reform plan sparked the upmove in Asia and Europe.

Dr Reddy’s went up 2.25 per cent. Infosys stock made a significant rally by climbing 1.98 per cent to Rs 894.50 on value-buying amid speculation that Nandan Nilekani might return as the company’s head.

PTI