Sensex adds 240 points; ITC, software majors lead gains

Dealers say that though a depreciating rupee is keeping investors cautious, reasonable valuations rule out a steep downside from current levels. 


Indian shares advanced over 1% on Thursday after closing in the negative in the previous session. Dealers say that though a depreciating rupee was keeping investors cautious, reasonable valuations rule out a steep downside from current level.

The 30-share BSE Sensex provisionally closed up 1.25%, or 240 points, at 19,417.76, while the National Stock Exchange’s 50-share Nifty ended 1.24%, or 71.35 points, higher at 5,842.25.
ITC Ltd shares were up 3.74% and were the top contributor for the gains on Sensex.
A depreciating rupee boosted software stocks on expectations of higher revenue in rupee terms. Sector leader Tata Consultancy Services Ltd and rivals Infosys Ltd and Wipro Ltd were up 3.26%, 2.29% and 2.13%, respectively.