India’s BSE Sensex Rises; Tech Mahindra Shares Gain Following Q2 Results

29 Oct India’s BSE Sensex Rises; Tech Mahindra Shares Gain Following Q2 Results

Indian stock markets rose on Friday, with the S&P BSE Sensex up over 30 points in the morning trade.

The S&P BSE Sensex gained 32 points, or 0.12 percent at 27948.26. The 30-share index reached a low of 27,810.00 in the morning trade. The Nifty50 rose over 20 points at 8,635.

The Indian rupee declined by 2 paise to trade at 66.89 against the U.S. dollar on Friday. Yesterday, the rupee closed 4 paise lower against the dollar at 66.87.

Some major companies due to report earnings today are Colgate-Palmolive, Nestle India, IDFC, Grasim Industries, UPL, and Eicher Motors.

Shares of Tech Mahindra surged around 7 percent on Friday after the company posted stronger-than-expected earnings for the latest quarter.

US WTI crude futures on the NYMEX gained 0.08 percent to trade at $49.76 per barrel.

Top market movers among the BSE index are as follows

• Shares of Sagarsoft (India) Ltd. rose 20 percent to 23.40 INR.
• Cybermate Info shares gained around 20 percent to 1.38 INR.
• Jayshree Chem shares surged 20 percent to 13.80 INR.
• Astec Lifesc rose about 20 percent to 543.95 INR.

• Everonn Edu dropped around 19 percent to 11.70 INR.
• FCS Software fell around 17 percent to 0.25 INR.
• Pan India Corp slipped 17 percent to 0.25 INR.
• Gokaldas Export shares declined 15 percent to 71.90 INR.

Author: Monica Gerson (Benzinga Staff Writer)

Read the Main Article here: http://www.benzinga.com/news/16/10/8615880/indias-bse-sensex-rises-tech-mahindra-shares-gain-following-q2-results