Sensex Rebounds Around 300 Points From Day’s Lows; IT Stocks See Buying
The benchmark indices have rebounded around 300 points from the lows of the day, thanks to buying interest in information technology stocks ahead of the Infosys results scheduled later in the day. The broader markets, including the BSE Midcap index and BSE Smallcap index are trading marginally in the green.
In the currency markets, the rupee has depreciated 12 paise to 74.61 against the U.S. dollar as firm American currency and weak domestic equities weighed on investor sentiment. At the interbank foreign exchange, the rupee opened at 74.57 against the dollar, then fell further to 74.61, registering a fall of 12 paise over its previous close.
On the stock-specific front, Tech Mahindra has soared 2.3 per cent to Rs 1074.90 to top the gainers list on the BSE. HCL Tech, Infosys and TCS have also gained 1-2 per cent each on the BSE.
And Mindtree rose as much as 7.2 per cent to hit a record high of Rs 2,674.55 after its profit in June quarter rose 8.2 per cent sequentially to Rs 343 crore in the June quarter.
On the other hand, Maruti Suzuki, Dr Reddy’s and Hindustan Unilever have shed around a per cent each on the BSE
The BSE market breadth is positive. Out of 3,312 stocks traded on the BSE, there are 1,798 advancing shares as against 1,375 declines.