Sensex up on Q1 forecasts

Domestic bourses had lots to cheer as the Sensex rose 2 per cent after a shaky start, on expectations of strong quarterly corporate earnings.

The sentiment also turned positive as major Asian markets bounced back after the pressure of oil prices eased off a little.

The Sensex, which moved between the red and the green all morning, ended trade with a gain of 174.77 points at 10684.30, up by 1.66 per cent from last week's close. At NSE, the Nifty swung by 83.6 points between its highest and lowest points during the day. It ended trade with a gain of 66.15 points.

In the IT pack, i-Flex Solution gained close to 7 per cent, and closed trade at Rs 1,215.60, up Rs 78.75 from its previous close. HCL Technologies moved up 5.56 per cent, and ended trade at Rs 518.35. Infosys rose nearly 3 per cent to Rs 3,190, while TCS added Rs 52.80 to its price and closed at Rs 1,800.90.

Buying interest was very weak in the banking and FMCG sectors. Despite the positive end to trade, the market breadth was very weak. The BSE registered 1,037 advances against 1,307 declines, and at the NSE the ratio stood at 4:5.