Mumbai: The BSE Sensex bounced back on Tuesday after a fall of more than 400 points in previous two sessions. It closed at 17,207.29 and the NSE benchmark closed at 5,222.65 points. Tata Consultancy Services (TCS) shouldered most of the upmove in a listless trade, though rival Infosys also made good its losses. At the end of the session, Sensex rose 110.61 points or 0.65 per cent, Nifty 22.05 points or 0.42 per cent, TCS 13 per cent and Infosys gained 1.6 per cent. European markets too rebounded after yesterday's sharp fall; France's CAC, Germany's DAX and Britain's FTSE were up in the 0.4-1 per cent range.
TCS's better-than-expected bottomline in fourth quarter boosted sentiment in the IT sector. At one point, TCS was up 12.84 per cent at Rs 1,195.25. A confident management said it will beat NASSCOM's growth guidance of 11-14 per cent in FY13. "We are more confident going into Q1FY13 than when we went into Q4FY12," N Chandrasekaran, CEO and MD of TCS said in an interview to CNBC-TV18. TCS also became the second largest company with market cap of Rs 2,34,700.16 crore followed by ONGC with Rs 2,28,859.36 crore.
Software services provider Wipro gained 4.44 per cent ahead of January-March quarter earnings that is scheduled to be announced tomorrow morning.
Metals stocks too closed in green; Tata Steel, Hindalco and Sterlite Industries were up 1-1.65 per cent. FMCG company HUL and cigarette major ITC moved up 0.8 per cent and 0.43 per cent, respectively.
Among auto stocks, Hero Motocorp jumped 2.3 per cent and Tata Motors was down 0.7 per cent while M&M and Maruti Suzuki were down 0.4-0.8 per cent. Bajaj Auto tanked 1.6 per cent.
Country's largest private sector lender ICICI Bank rose 0.5 per cent whereas rivals HDFC Bank and State Bank of India fell just 0.2 per cent.
Index heavyweight Reliance Industries was down 0.2 per cent, and engineering and construction major Larsen & Toubro went down 2.6 per cent.
Telecom stocks slipped for second consecutive session due to TRAI recommendations on 2G spectrum auction. Telecom regulator set Rs 3,622.18 crore as base or minimum price for 2G spectrum auction, which is around 10 times higher than the floor price at which the former Telecom Minister A Raja had allocated spectrum in 2008.
Top telecom operator Bharti Airtel lost 2 per cent and Idea Cellular tumbled 3.7 per cent. Reliance Communications was down over 1 per cent.
The broader markets closed flat and the market breadth was neutral.
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