Sensex rises 279 points; L&T, Sun Pharma, TCS soar

The 30 stock S&P BSE Sensex was trading at 55,574.05 points at 12.03 pm, which is 305.56 points or 0.55 per cent higher when compared with its previous day's close at 55,268.49 points.

Earlier, the Sensex started the day in the red at 55,258.29 points and fell to a low of 55,157.99 points in the early morning trade.

The Sensex is trading in the positive after two consecutive days of a sharp drop. The index had slumped by 497.73 points or 0.89 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange was trading 84.35 points or 0.51 per cent higher at 16,568.20 points against its previous day's close at 16,483.85 points.

The Nifty started the day in the negative at 16,475.35 points and fell to a low of 16,438.75 points in the morning trade.

Larsen & Toubro (L&T) surged 2.76 per cent to Rs 1798.75 a day after announcing the strong quarterly numbers.

Engineering firm Larsen & Toubro (L&T) on Tuesday reported a consolidated net profit of Rs 1,702 crore for the quarter ended June 30, 2022, as compared to Rs 1,174 crore recorded in the corresponding period of the last year, registering a year-on-year growth of 45 per cent.

The company registered consolidated revenues of Rs 35,853 crore for the quarter ended June 30, 2022 recording a y-o-y growth of 22 per cent with strong execution witnessed in the Infrastructure Segment and riding on the sustaining growth momentum in the IT&TS portfolio.

Sun Pharma jumped 2.25 per cent to Rs 885.55. IndusInd Bank rose 1.76 per cent to Rs 978.40. Axis Bank jumped 1.40 per cent to Rs 716.25. Hindustan Unilever rose 1.30 per cent to Rs 2579.85. Tata Consultancy Services was trading 1.22 per cent higher at Rs 3153.95.

Only eight of the 30 scrips that are part of the benchmark Sensex were trading in the red. Bajaj Finserv dipped 1.61 per cent to Rs 13101. Bharti Airtel slipped 1.34 per cent to Rs 674.65. Kotak Bank, Bajaj Finance, Mahindra & Mahindra and NTPC were among the other major Sensex losers. (ANI)