The Sensex and Nifty recovered today as a weak rupee buoyed the appeal
of technology shares amid a mixed trend overseas. The Sensex rose over
318 points to close at 34,663, just a day after it had tumbled 306
points following a late-session sell-off.
This is the benchmark's
biggest single session gain since April 5, when it had surged 577
points. The NSE Nifty scaled a high of 10,535 before closing at 10,513,
up 83 points, or 0.80 per cent. TCS, Infosys, Wipro, HCL Technologies
and L&T Infotech rose up to 5.85 per cent as a weak rupee brightened
the earnings outlook of Indian IT outsourcers.
Global cues were mixed
amid caution over US-China trade relations, with the US launching a
national security probe into auto imports that could lead to new
tariffs. SBI extended its gaining streak for the third straight session,
climbing 2.01 per cent. Bharti Airtel led the index gainers' list,
surging 4.11 per cent, followed by Infosys at 3.09 per cent.
Tata Motors was the biggest loser in the Sensex pack, declining 6.56 per
cent, after the company on Wednesday reported a 49.82 per cent fall in
consolidated net profit with its British arm JLR continuing to face
challenges in the UK and Europe.