Sensex gains around 200 points as IT sector recovers after earnings

Reuters Market Eye - The BSE Sensex and Nifty rise nearly 1 percent. IT outsourcers recover from steep falls on Wednesday after Tata Consultancy Services Ltd and HCL Technologies Ltd post better-than-expected earnings.

TCS gains 1 percent, while HCL Tech is up 1.4 percent.

Gains also track higher Asian rivals after comments from Fed Chair Janet Yellen stressing the need to deliver continued policy stimulus.

Among blue chips, ICICI Bank gains 2.4 percent, while Tata Motors is up 2.7 percent.

However, overseas investors sold Indian shares worth of 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data shows, marking their third consecutive session of outflows.

 

(Reporting by Abhishek Vishnoi)