Sensex rises to highest since February 2008

      The benchmark index for Indian equities on Wednesday rose sharply in late trade, as Sensex advanced by 103 points to its highest level since February 5, 2008, led by IT majors Tata Consultancy Services and Infosys Technologies. The Bombay Stock Exchange's 30-share index rose further by 102.61 points, or 0.57 per cent, to 18,217.44 on Wednesday. It had gained nearly 247 points in the previous two trading sessions. In tandem, the broad-based National Stock Exchange index Nifty rose by 28.30 points, or 0.52 per cent, to 5,467.85, after touching an intra-day high of 5,481.90. Today, in early trade, the rupee lost 12 paise against the US dollar due to demand for the US currency from importers. An estimated 50 per cent of Indian software companies' revenue comes from US and European markets.

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