market watch

Sensex, Nifty close on a high as Infosys stocks surge on Nandan Nilekani’s return

Shares of the IT giant had dropped 10.6% since August 18, when Vishal Sikka quit as the company’s chief executive officer.

The Bombay Stock Exchange Sensex closed 154.76 points up at 31,750 on Monday, following a three-day weekend for the Ganesh Chaturthi festival. The National Stock Exchange Nifty ended 55.75 points higher at 9,912.80.

The upward trend in the markets on Monday was helped by a surge in Infosys shares, three days after former Unique Identification Authority of India chief Nandan Nilekani became the non-executive chairperson of the company. Infosys stocks jumped over 4% in early trade on Monday before stabilising. It closed 3.09% higher at Rs 940.30 on the NSE.

When markets closed on Thursday, Infosys shares had lost as much as 10.6% since August 18, when Vishal Sikka quit as the chief executive officer, reported Mint.

NTPC, Sun Pharma, Hero Motocorp, Hindustan Unilever and Adani Ports were the next top gainers on the Sensex. On the NSE, the best performers, apart from Infosys, were Indian Oil Corporation, NTPC, Yes Bank and Sun Pharma.

The biggest losers on the Sensex were Dr Reddy’s Laboratories, Tata Motors, Power Grid Corporation, the State Bank of India and TCS. On the Nifty, too, shares of Dr Reddy’s Laboratories saw the biggest decline. The other poor performers were Power Grid Corporation, Tata Motors, Tata Motors DVR and Tata Steel.

Other Asian markets all traded in green, with the exception of Japan’s Nikkei, which saw a small decline. The rupee traded at 63.87 to the dollar.

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