TCS, Wipro lift Sensex up by 141 pts; RIL down 1.70%

Snapping the two-day losing streak, the BSE benchmark Sensex today gained over 141 points to settle the day at 21,205.05 on buying support in IT stocks after Wipro announced encouraging third quarter earnings.
Country's largest software services exporter TCS surged 5.53 per cent to emerge as the biggest Sensex gainer of the day. Today's gain to a great extent made up for the huge loss of 5.77 per cent it suffered on the previous trading day despite the company posting robust earnings.
Wipro, which on Friday announced a 27 per cent jump in consolidated net profit for the third quarter, rose 3.77 per cent, the second biggest among Sensex scrips.

Reliance Industries (RIL) was the top loser at 1.70 per cent despite market beating earnings for the October-December period.
The 30-share indicator touched a low of 21,001.13 in early trade. A sudden buying emerged, mainly in IT stocks, lifting the key index to 21,205.05, a gain of 141.43 points.
In the previous two sessions, Sensex had lost 225.87 points.

The 50-issue NSE Nifty also rose by 42.30 points to end the day at to 6,303.95.
Of the 30 Sensex shares, 16 ended higher while 14 finished with losses. Major gainers included Sesa Sterlite at 2.49 per cent, ITC 1.65 per cent, Tata Motors per cent, BHEL 1.26 per cent, SBI 1.17 per cent, M&M 1.00 per cent.

Besides RIL, Coal India at 1.12 per cent and Tata Power at 1.02 per cent were the biggest losers.
Among the BSE sectoral indices, IT rose by 2.83 per cent followed by teck 2.50 per cent, FMCG 1.08 per cent, bankex 0.75 per cent, auto 0.72 per cent and realty per cent.
Oil&Gas index closed with a fall of almost 1 per cent following a drop in Reliance Industries.
Jignesh Chaudhary, Head of Research, Veracity Broking Services, said it was a mixed day of trading in Indian equity markets. They traded a bit weak in early trade on negative Asian stocks, which were reeling under the weak Chinese GDP numbers.

"In last of hours of trading shares got revived and ended the day on a strong note, buoyed by some good positive rallies seen in the IT and banking Stocks.