TCS Q3 results lift market sentiment, Sensex up 210 pts

Written by: Pti
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Mumbai, Jan 18 (PTI) Better-than-expected results by thecountry''s largest software exporter TCS lifted marketsentiment, helping the BSE benchmark Sensex move up today by210 points and regain the 19,000 level, despite sustainedselling by foreign funds.

Firm European trend also helped sustain positive mood.

Tata Consultancy Services (TCS) which announced lateyesterday a 30 per cent growth in net profit for Q3, notchedhandsome gain of 5.48 per cent to touch an all-time high.

Marketmen said the result was encouraging not only forthe company but for the entire IT sector, especially after themuted performance of Infosys Technologies.

Infosys and Wipro also rose -- 1.54 per cent and 2.79 percent -- lifting the sectoral BSE-IT index up by 170.57 pointsor 2.60 per cent. The three counters accounted for a rise ofnearly 85 points in the Sensex.

Metal, pharma, FMCG and banking sectors too attractedgood buying support at lower levels.

The Bombay Stock Exchange 30-share bellwether indexopened higher and remained in the positive terrain throughoutthe day before closing at 19,092.05, a net gain of 209.80points or 1.11 per cent.

Similarly, the NSE 50-issue Nifty also shot up by 69.30points or 1.23 per cent to 5,724.05. .

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