Sensex gains for 2nd day; rises by 210 pts

Written by: Pti
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Mumbai, Jan 18 (PTI) The BSE benchmark index Sensex rosefor the second day today gaining 210 points on buying by fundsin fundamentally strong scrips, especially software and metalstocks, after impressive corporate earnings amid a firmingglobal trend.

The Bombay Stock Exchange benchmark Sensex spurted by209.80 points to close at 19,092.05 points.

The broad-based National Stock Exchange index Nifty shotup by 69.30 points to 5,724.05 points.

Market sentiment improved after software major TCSreported nearly 30 per cent rise in the third quarter netprofit, brokers said.

The metal sector stocks were second in a row in pushingup the market following a recent hike in steel prices and arising base-metal prices in overseas markets.

Besides, a better trend in emerging markets, which rosefor the first time in four days as technology companies gainedon speculation demand for software services will be sustained,was another boosting factor.

The IT sector index gained the most rising by 2.60 percent to 6,720.76 as the segment major TCS rose by Rs 62.40 toRs 1,200.55, Infosys by Rs 50.20 to Rs 3,318.15 and Wipro byRs 13 to Rs 479.15.

The metal sector index rose by 2.31 per cent to 16,528.72points as shares of Tata Steel, JSW Steel, Sterlite Industriesand Hindalco recorded handsome gains.

As the buying activity spilled over a wide-front, themidcap index rose by 0.45 per cent to 7,155.35 and small capindex by 0.28 per cent to 8,893.27 points.

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