Sensex up by over 100 points in late morning deals; IT shares surge higher

Mumbai: The benchmark Sensex recovered from its early volatility to trade over 100 points higher in late morning deals on easing fiscal deficit concerns despite lower Asian cues.

Frontline stocks of IT, Teck, bank, healthcare, financials and capital goods advanced while selling was seen in realty, telecom, auto and consumer durables segments.

The benchmark BSE Sensex gained 126.76 points or 0.36 percent to trade at 34,897.81 at 1100 hrs. The broader Nifty was also trading up by 28.95 points or 0.27 percent at 10,729.40.

Major gainers were Infy 2.66 percent, Axis Bank 2.06 percent, AdaniPorts 1.94 percent, TCS 1.86 percent and ICICI Bank 1.62 percent.

Losers include Heromotoco 1.78 percent, Tata Motors 1.59 percent, Wipro 1.49 percent, Tatamtrdvr 0.94 percent and HUL 0.89 percent.

The BSE Information Technology index was trading with gains of 1.54 percent at 12213.70. It touched a high of 12,272.23 points.

The BSE Teck index also surged to a high of 6,820.44, registering a jump of 1.61 percent in morning trade. The index was quoted at 6,784.92, up 1.08 percent at 1052 hrs.

The leading IT companies like Infosys, Tata Consultancy Services (TCS), HCL Technologies and Tech Mahindra registered gains of as much as 3 percent on the BSE.

Infosys surged 3.30 percent to touch a 52-week high of Rs 1,160, registering a surge in its shares price for the eighth consecutive session.

TCS also hit a new high of Rs 2925.00. Similar was the case HCL Technologies also which touched its 52-week high of Rs 962.70.

Meanwhile shares of Tech Mahindra touched a high of Rs 564, up 1.11 percent over its previous closing price.

With PTI Inputs