Sensex, Nifty trading up; TCS rises ahead of earnings

Mon Apr 23, 2012 10:30am IST

Stock brokers engage in trading at a brokerage firm in Mumbai February 14, 2008. REUTERS/Arko Datta/Files

Stock brokers engage in trading at a brokerage firm in Mumbai February 14, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

Reuters Market Eye - The Sensex and the Nifty rose in early trade, led by gains in Tata Consultancy Services (TCS.NS) ahead of its Jan-March earnings and banking stocks on hopes the Reserve Bank of India would take measures to enhance liquidity.

TCS, India's top software exporter, is expected to post a net income of 28.21 billion rupees in Jan-March, as per Starmine data.

The Nifty index for bank stocks was up 0.44 percent, led by ICICI Bank (ICBK.NS), up 0.8 percent, and State Bank of India (SBI.NS), up 0.6 percent.

Traders expect the market to be rangebound, grappling with derivatives expiry this week and foreign tax issues.

A fall in Nifty on Friday, which traders are attributing to a trading error, is also weighing on the market. The National Stock Exchange, however, denied the speculation.

The country's main 30-share BSE index up 0.24 percent to 17,414 points, and the 50-share NSE index rose 0.23 percent to 5,302 points.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

Reuters Showcase

Asian Shares

Asian Shares

Oil's drop chills Asian stocks, inflation data boosts dollar  Full Article 

Legal Complaints

Legal Complaints

Government's payday from telecoms auction could be delayed  Full Article 

Rail Budget

Rail Budget

India aims to invest $137 billion in railways in next 5 years  Full Article | Full Coverage 

Gold Market

Gold Market

Gold holds up on Chinese demand, set to snap 4-week losing run  Full Article 

Breakingviews

Breakingviews

StanChart board clearout is only the first step  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage