Sensex at 1-week high; rises 128 pts ahead of Infosys earnings

The BSE benchmark Sensex today rose 128 points to close at nearly one-week high of 18,542 level led by buying in realty, IT and banking stocks ahead of the earning season beginning tomorrow with Infosys.
Rising for the second day in row, the Sensex closed 127.75 points, or 0.69 per cent, up to 18,542.20, a level last seen on April 4. The index had gained 188 points in the previous session.
The broad-based National Stock Exchange index Nifty rose by 35.30 points, or 0.64 per cent, to 5,594. It touched the day's high of 5,610.65.
Brokers said the market witnessed value buying before the fourth quarter financial results beginning tomorrow with Infosys on optimism of better earnings.

They said a firming global trend as Italian borrowing costs fell at a debt sale, further influenced the market sentiment.
In 30-BSE index components, 16 stocks closed with gains led by Infosys, Tata Motors, ICICI Bank, Larsen and Toubro, State Bank of India and Cipla.
Infosys shot up by 3.72 per cent to Rs 2,917.85 a day before the quarterly financial results, while ICICI Bank rose by 3.52 per cent to Rs 1,039.80 on valuation based buying after its recent steep fall, Tata Motors spurted by 3.92 per cent to Rs 278.15 on reports the company sales at its Jaguar Land Rover unit jumped 16 per cent.

The realty sector index gained the most by rising 2.21 per cent to 1,810.14 followed by IT sector index by 2.04 per cent to 6,794.20. Banking index rose by 1.53 per cent to 12,951.08.