Infy's Q3 Results Boost Markets

The Indian equity indices opened on a strong note, mainly on the back of better-than-expected results announced by IT major Infosys. The Nifty, though, has not able to sustain above the 6000 mark. The index opened at 6012.40, touched a high of 6018.85 and a low of 5975, and is currently trading up by 11 points at 5980. The Sensex opened at 19813.64, made a high of 19839.80 and a low of 19727.12, and is up by 81 points at 19744. Both indices are higher in the range of 0.20%-0.40%.

The advance-decline ratio is negative this morning. On the NSE, 748 shares have declined and 513 shares have advanced.

Top 5 NSE Gainers: Infosys is the top gainer on the NSE, trading up by 12.79%, followed by Tata Consultancy, Wipro, Sesa Goa and HCL Technologies.

Top 5 NSE Losers: ONGC is among the top losers, down by 2.28%. Others in the list are Bharat Petroleum, Grasim Industries, ITC and IDFC.

4 out of 13 sectoral indices are trading strong at this hour of trade. IT and TECk are the top performing sector, up by 5.14%-7%.

The Asian markets are trading on a mixed note. Nikkei 225 and Taiwan Weighted are up in the range of 0.10%-1.39%, while Shanghai Composite, Strait Times, KOSPI and Hang Seng are lower between 0.05%-0.48%.

Buzzers: Infosys Technologies has touched an intraday high of Rs 2638.70 and a low of Rs 2521. It is now trading up by 13.08% at Rs 2626. This is the sharpest single day gain for the stock in the past decade, resulting from the strong results that are just in for the third quarter of FY13.

Infinite Computer Solutions (India) is trading up by 6.58% at Rs 132. The stock has witnessed a spike in volumes – its 5-days’ average volume is 51113, whereas today’s volumes stand at 106261, marking a jump of more than 100%.

The Nifty is in a consolidation phase now. If it sustains above the 6020 levels, we could see it touching the 6100 levels in the coming trading session. Support for the index stands at 5950-5910.