MUMBAI: The better-than-expected December quarter earnings performance by index heavyweight Infosys and Wipro today may have set up the BSE Sensex index for a dash to move above the psychologically crucial level of 50,000 points on Thursday.
Infosys earlier today surprised investors by announcing a higher-than-expected increase in its revenue growth guidance for 2020-21. The blockbuster earnings by the index heavyweight, which has a weight of over 9 per cent in the Sensex, will aid the BSE Sensex post strong gains on Thursday, said analysts.
Similarly, Wipro reported strong earnings growth for the December quarter just like its peers Tata Consultancy Services and Infosys. The company also gave firm sales growth guidance for the March quarter, suggesting that revenues may grow at 1.5-3.5 per cent.