Nifty gains 50 pts, IT counters surge on Infosys result

The market gained in a volatile session sparked by the IT major Infosys better than expected December quarter result, as the broader benchmark Nifty rose by 49.90 points at the National Stock Exchange (NSE) here today.
The key Index opened positive over higher Asian cues touching the crucial 8,300-level, before succumbing to volatility during afternoon, witnessed profit-booking in key counters of Realty, Infra, Banking and Finance.
Late afternoon saw the release from Infosys India's second largest software exporter Q3 results which beat the estimate, also maintaining the growth outlook for the year propelled IT index to rally by 3.46 per cent.

Meanwhile, foreign portfolio investors sold shares worth a net Rs 466.78 crore yesterday as per provisional data from stock exchanges.
Elsewhere, the Asian stocks ended mixed thwarting the initial gains, while European shares trading narrowly mixed.
The broader 50-share index opened at 8,285.45 and hovered between high of 8,303.30 and 8,190.80 before finishing at 8,284.50, showing a gain of 49.90 points, or 0.61 per cent.

Key FMCG major HUL and Infosys shares were the stars performer of the day gaining 5.82 per cent and 5.12 per cent, followed by TechM 4.43 per cent, Dr Reddy 3.18 per cent, TCS 2.80 per cent, Reliance 2.17 per cent and Wipro 1.56 per cent.

However, notable lossers are DLF 3.42 per cent, NTPC 3.24 per cent, Jindal Steel 3.20 per cent, Bajaj-Auto 3.04 per cent and IDFC 1.66 per cent.
Turnover in the cash segment surged to Rs 19,139.26 crore from Rs 17,626.25 yesterday. A total of 8,278.51 lakh shares changed hands in 77,41,162 trades and the market capitalisation stood at Rs 96,24,856 crore.