BSE Sensex gains; US economy prospects bolster TCS, Infosys Ltd, Wipro share prices, outlook +ive

BSE SensexBSE Sensex rose on Friday, sending indexes to their second consecutive weekly gains, as technology stocks such as Infosys Ltd extended a rally this year after data continued to signal a sturdier US economy. PTI

Tracking overnight gains on the Wall Street, the benchmark BSE Sensex today jumped by 119 points to nearly three-week high levels on the back of gains in IT and banking shares amid heavy capital inflows - gains in IT pack - Tata Consultancy Services (TCS), Infosys Ltd and Wipro - contributed over 71 points in the Sensex's 119-point rise. Bets on software exporters rose after a decline in US jobless claims data cemented hopes of a turnaround in the American economy.

Markets Top Gainers, Markets Top Losers

After rising 41.88 points in the previous session, the BSE Sensex spurted by 118.99 points, or 0.56 per cent, to end at 21,193.58, a level last seen on December 10. Eighteen constituents of the 30-share index rose.

Bluechips in the financial space including HDFC Ltd, ICICI Bank and State Bank of India (SBI) also saw good buying. Others like ITC Ltd, Hindustan Unilever (HUL), Larsen & Toubro (L&T), Sun Pharmaceuticals Industries and Sesa Sterlite also ended in green.

Brokers said that investors were seen in the mood of portfolio building in the ensuing year after the monthly equity derivatives for December 2013 expired yesterday.

On a weekly basis, the BSE Sensex rose by 113.86 points.

The broad-based National Stock Exchange index NSE Nifty rose by 34.90 points, or 0.56 per cent, to 6,313.80 after touching the day's high of 6,324.90. Also, SX40 of MCX Stock Exchange firmed up by 61.33 points to end at 12,594.59.

FIIs pumped over Rs 743 crore yesterday in cash market.

Mirroring the rise in local stocks, the rupee was trading strong at 61.8 versus dollar compared to last close of 62.16.

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