Mumbai Equity markets on Tuesday reversed almost half the losses of Mondays session and showed smart recovery after the hiccups in the early trade. Though volatility crept in the latter part of the trade but riding on the jubilation of the IT bel
lwether TCS, markets managed to sail comfortably and ended near the high points of the day. The Sensex closed 111 points higher.
IT pack mainly propelled the markets higher, led by TCS which surged more than 12% on reporting better than expected numbers.
The companys profit was up by 19% for the quarter, while the full year standalone profit surged by 45%. TCS on Tuesday became the second most valuable company based on the market capitalisation. The numbers encouraged the other major software companies with Wipro and HCL Tech gaining over 4% each.
