Infosys shares up by more than 5%; Nifty, Sensex shoot up

Indian equity markets are up sharply today. At 10:30 a.m. IST, Nifty 50 is up by 197 points or 0.77%. Sensex is up by 698 points or 0.84%.

All the broad market indices in green

All the broad market indices are in green at this time. Gains are spread throughout the market. Nifty Midcap 50 index is up by 1.04%. Among sectoral indices, Nifty IT index is the top gainer at this time. It is up by 3%. Nifty Realty index is up by 1.27%. Nifty Midsmall IT & Telecom index is up by 1.25%.

IT stocks rise after Infosys result

Markets are shooting up today after the good December quarter results posted by Infosys. The company’s profit came down year-on-year by 10% but that was due to one-time provisioning taken for the costs that the new labor code will result in. Revenue grew year-on-year by 2.2%. Total Contract Value of large deal wins stood at $4.8 billion.

Tech Mahindra shares up by more than 3%

Top 3 gainers at Nifty 50 at this time are Infosys, Tech Mahindra and Shriram Finance. Infosys shares are up by 5.09%, trading at Rs 1,681.20. Tech Mahindra shares are up by 3.61%, trading at Rs 1,645.90. Top 3 losers at NSE at this time are Cipla, Eternal and HDFC Life.

Market breadth positive

Market breadth is very positive at this time. At NSE 1856 stocks are gaining at this time. 1049 stocks are declining. That is an advance-to-decline ratio of more than 1. 59 stocks have touched 52-week high at NSE by this time today. 114 stocks have touched 52-week low by this time.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE