Indian Shares Rally On Global Cues, TCS Earnings

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Summary · why it matters

Indian shares ended Friday's session on a buoyant note, with the BSE Sensex settling 827.57 points, or 1.08 percent, higher at 77,569.39 and the NSE Nifty index surging 244.10 points, or 1.02 percent, to close at 24,206.90. Firm cues from global markets and Tata Consultancy Services' better-than-expected first-quarter earnings helped underpin investor sentiment. TCS, India's largest software services exporter, reported a healthy 14 percent rise in quarterly revenue, beating analysts' estimates, driven by a weak rupee and higher spending by banking clients, while profit rose about 5 percent from last year. The BSE mid-cap and small-cap indexes jumped 1.4 percent and 1.2 percent, respectively, and market breadth was strong with 2,884 shares rising against 1,372 falling. Among the top gainers, HCL Technologies, Larsen & Toubro, Adani Ports, UltraTech, Bajaj Finance, Infosys, Tata Steel, Axis Bank, BEL, Tech Mahindra and Reliance Industries all rose around 2 percent.

Impact on stocks 4

Energy Transition & Power Demand · 2 stocks
Information Technology · 1 stocks
Materials · 1 stocks

Off-coverage companies 7

Tata Consultancy Services LimitedPrivate▲ Positive
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TCS reported better-than-expected Q1 earnings with 14% revenue growth and 5% profit rise.

Adani Ports and Special Economic Zone LtdPrivate± Mixed
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Axis BankPrivate± Mixed
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Bajaj FinancePrivate± Mixed
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Bharat Electronics LimitedPrivate± Mixed
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Tech Mahindra LimitedPrivate± Mixed
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UltraTech Cement LimitedPrivate± Mixed
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