Mumbai, Dec 12 (IANS) The Sensex and Nifty ended higher on Thursday over firm global cues metals and banking scrips outperformed while IT index slid due to strong rupee. Yes Bank jumped 6 per cent on the BSE after heavy selling in last 5 sessions.
Infosys scrips fell by 2.63 per cent to Rs 701 a share after Schall Law Firm, a shareholder rights litigation firm based in Los Angeles announced the filing of a class action lawsuit against Infosys Limited.
According to the complaint, Infosys made false and misleading statements to the market and used improper recognition of revenue to boost short-term profits.
The Sensex jumped 169.14 points or 0.42 per cent to 40,581.71 while the Nifty closed at 11,971.80, higher by 61.65 points.
“Fed’s dovish stance on future rate trajectory and strengthening rupee brings cheer to investors. Global sentiment is likely to turn positive in expectation of delay in US tariff deadline, while expecting more positive developments from US-China trade talks,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nair added metals & banks outperformed while IT index slid due to strong rupee and signs of change in risk appetite. On the other hand, November CPI inflation is likely to rise to 5.3% while Oct IIP may slide to -5% which may have some impact on the direction.”
–IANS
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