Mumbai | Market Friday remained bullish for the fifth straight session as the Sensex pulled above the key 28,000-mark, gaining over 91 points, after investors built more bets and foreign inflows continued amid encouraging corporate earnings.
A firm trend in Asia following overnight gains in the US also triggered buying by participants.
The 30-share index, which had gained 815.17 points in the previous four sessions, added 91.36 points, or 0.32 per cent, at 28,033.47 helped by sectoral indices led by consumer durables, FMCG, technology, realty and healthcare that rose by up to 1.30 per cent. The NSE Nifty too rose 19.55 points, or 0.21 per cent, to 8,584.55. Brokers said widening of bets by investors coupled with persistent foreign inflows on better-than-expected earnings by India’s largest software services firm TCS kept sentiment upbeat.
TCS reported a 9.9 per cent growth in consolidated net profit at Rs 6,317 crore for the first quarter ended June.
The stock of TCS, however, was down 0.69 per cent as participants booked profits. Infosys was trading in the positive zone by rising 0.34 per cent ahead of its quarterly earnings. A firm trend in Asian markets after Chinese economy grew more than expected in the second quarter and another record closing in the US markets too accelerated buying activity on the bourses here. Japan’s Nikkei gained 1.16 per cent while Shanghai Composite rose 0.09 per cent in the initial session today. Hong Kong’s Hang Seng gained 0.60 per cent.
The US Dow Jones Industrial Average ended 0.73 per cent higher yesterday.