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Market likely to surge; TCS, Infosys, Reliance in focus
The 30-share BSE Sensex was up 126.93 points or 0.46 percent at 27942.11 and the 50-share NSE Nifty gained 45.50 points or 0.53 percent at 8565, the highest closing level since August 6, 2015. The broader markets also participated in late uptrend as the BSE Midcap and Smallcap indices were up 0.5-0.7 percent.
India’s largest software services exporter Tata Consultancy Services kicked off the IT earnings season on a strong note by reporting better-than-expected profit and operational performance in April-June quarter while revenue was in-line. Profit fell 0.36 percent sequentially to Rs 6,318 crore in Q1 but that was supported by better operational numbers.