After positive quarterly results, TCS shot up 15.34 per cent and closed above the Rs 500 mark for the first time since May 30, 2008. The BSE IT Index was up 7.26 per cent and posted biggest daily percentage gain since May 18.
Surging 5.7 to 9.2 per cent Tech Mahindra, HCL Tech, Wipro, Infosys and Satyam proved to be the other gainers.
Apart from these, RIL had a good run in the session. It surged 5 per cent and Reliance Petroleum gained 4.7 per cent.
Gujarat NRE Coke gained 17 per cent. On the back of good results for the first quarter Allahabad Bank's stocks was up 9.25 per cent. Kingfisher Airlines rose 8.9 per cent. However, Petronet LNG lost 4.8 per cent due to disappointing Q1 numbers.
Mkts continue rally on back of buying in IT stocks
The markets continue to trade higher on back of the buying in technology, realty, banking and capital goods stocks along with RIL. At 1:22 pm, the Sensex surged 374 points, to 15,119 and Nifty rose 107 points, to 4,482. The broader indices gained 2 per cent.
All the sectoral indices are in green except FMGC. IT Index surged 8 per cent, as TCS continues to suge. The other gainers in technology stocks are, Wipro up 10.83 per cent; HCL Tech up 9.82 per cent; Tech Mahindra up 7.68 per cent; Satyam up 5.6 per cent and Infosys up 6 per cent.
The RIL-RNRL case hearing which was scheduled to happen on Jul 20 was deferred to Sep 1. Mukesh Ambani's RIL and Reliance Petroleum gained 4 per cent and 3.5 per cent respectively while Anil Ambani's RNRL lost 1.9 per cent.
Gujarat NRE Coke, HOEC, Deccan Chronicle, Allahabad Bank and MindTree gained among the midcaps and Kemrock Ind, Cranes Software, Ruchi Soya, Zandu Pharma and Electrotherm gained among the small caps.
Mkts continue +ve; buying in IT stocks
Huge buying in the technology stocks is pushing the Sensex above the 15,000 mark and the Nifty above 4450. At 11: 58 am, Nifty surged 81 points, to 4,456 and the Sensex gained 291 points at 15,036. The broader indices were up 2 per cent each.
IT Index shot up 7 per cent, as TCS rose 15 per cent, Wipro gained 11 per cent, Infosys up 5 per cent and HCL Tech up 7 per cent.
Buying interest was also seen in Shares of capital goods, realty, power, oil & gas exploration and select banking stocks along with Reliance Industries and Bharti.
However, those trading in the red were ITC, Reliance Communication, Reliance Infrastructure, Hero Honda, BPCL and Cipla.
Among the sectors, FMCG; BSE Realty and Oil & Gas indices rose 2 to 2.5 per cent, and Capital Goods, Metal and Bank indices were up 1 to 1.6 per cent.
Due to the projects worth Rs 776 crore, Nagarjuna Construction was up 3 per cent. However, Natco Pharma fell 6 per cent, as the company has recalled Breast cancer drug Albupax.
Mkts open higher on back of +ve Asian cues
The markets have opened the week's session on a positive note on the back of positive Asian cues. At 9:56 am, the Nifty surged 70 points, to 4,445 and the Sensex went up by 239 points at 14,984. The CNX Midcap gained 70 points, to 5,544 and the Nifty Junior rose 113 points, to 7,974.
Riding on the back of good earning, Tata Consultancy Services (TCS) gained 13 per cent. Wipro went up 3.5 per cnet ahead of Q1 numbers.
Buying interest was seen in metal stocks like Sterlite, Tata Steel and Jindal Steel and Power. LME Zinc rose 4 per cent, Tin was up 2 per cent, Lead went up 4 per cent and Copper went up 1.5 per cent.
Among the Midcaps, Apollo Hospitals went up 8.5 per cent, Aban Offshore, Rolta and Mahindra Satyam surged 3 to 5 per cent. Good Q1FY10 numbers helped Allahabad Bank go up by 11.5 per cent. However, Sasken Communication and Petronet LNG lost 5 per cent, and Mahindra Holidays was down 2.5 per cent.