Mumbai: Better-than-expected results by the country's largest software exporter TCS lifted market sentiment, helping the BSE benchmark Sensex move up on Tuesday by 210 points and regain the 19,000 level, despite sustained selling by foreign funds.
Firm European trend also helped sustain positive mood.
Tata Consultancy Services (TCS) which announced late yesterday a 30 per cent growth in net profit for Q3, notched handsome gain of 5.48 per cent to touch an all-time high.
Marketmen said the result was encouraging not only for the company but for the entire IT sector, especially after the muted performance of Infosys Technologies.
Infosys and Wipro also rose - 1.54 per cent and 2.79 per cent - lifting the sectoral BSE-IT index up by 170.57 points or 2.60 per cent. The three counters accounted for a rise of nearly 85 points in the Sensex.
Metal, pharma, FMCG and banking sectors too attracted good buying support at lower levels.
The Bombay Stock Exchange 30-share bellwether index opened higher and remained in the positive terrain throughout the day before closing at 19,092.05, a net gain of 209.80 points or 1.11 per cent.
Similarly, the NSE 50-issue Nifty also shot up by 69.30 points or 1.23 per cent to 5,724.05.
TCS results, which came against the backdrop of so much negative sentiment on the domestic front, have given a lease of life to the market, a broker said.
He added however that the market might show resistance at every higher level on profit-booking by wary investors.
Foreign Institutional Investors (FIIs) continued with the selling spree, offloading shares worth Rs 173 crore while local funds bought scrips worth Rs 359.82 crore yesterday, as per the provisional figures.
On the global front, Asian stocks ended narrowly mixed on lack of direction due to holiday in New York yesterday. Key benchmark indices in China, Japan, Singapore and Taiwan closed with gains, while from Hong Kong and South Korea ended with small losses.
However, European markets were trading remarkably higher in their afternoon deals. The CAC was up by 0.71 per cent, the DAX by 0.80 per cent and the FTSE by 1.13 per cent.
Of 30 index-based components, 23 closed in the green while others settled in the red.
Gainers from the Sensex pack included Sterlite Ind (4.42 per cent), Jindal Steel (3.06 per cent), Jaiprakash Asso (2.66 per cent), ITC (2.53 per cent), Bajaj Auto (2.16 per cent), Hindalco (2.09 per cent), SBI (1.59 per per cent), Tata Motors (1.58 per cent), Tata Steel (1.53 per cent) and ICICI Bank (1.03 per cent).
However, Reliance Infra continued to decline and lost 4.53 per cent, over a fall of 7.84 per cent yesterday.
The total market breadth turned positive as 1,490 scrips ended with gains, as against 1,342 with losses on the BSE.
The total turnover remained low at Rs 3,055.47 crore.
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