Business Standard

Sensex gains on IT sector news but still cautious

Image

Reuters Mumbai

The Sensex rose about one per cent today in low volumes, recovering from steep losses in the previous session, as software service exporters, such as Infosys, gained after global rival Accenture raised its profit outlook for the year.

Still, indices lost about 0.6 to 0.8 per cent during the week, marking their fifth consecutive weekly loss, and caution still lingers over how soon the Reserve Bank of India can cut interest rates after the government announced higher borrowing plans in its 2012-13 Budget last week.

The main 30-share BSE index gained 0.96 per cent, or 165.27 points to 17,361.74 points, a day after weak manufacturing data from the euro zone and China sent it to its biggest fall in the year. Meanwhile, the 50-share Nifty index added one per cent to 5,278.20 points.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 24 2012 | 12:00 AM IST

Explore News