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Good day for technology counters

August 4, 2010

Technology shares rose on Wednesday as Indian firms cheered robust results and guidance from U.S. peer Cognizant Technology Solutions.

Cognizant on Tuesday reported a profit that topped market estimates for the sixth straight quarter, helped by a surge in discretionary projects, and also raised its 2010 revenue outlook.

Shares in TCS rose as much as 4.5 percent to a record high of 871 rupees in trade. Infosys gained 3 percent while Wipro rose 4 percent.

The BSE IT Index, which saw all stocks closing in the green, ended with gains of 3.2 percent as the top sectoral gainer.

The index has gained 6 percent since July. Are you optimistic about the future of these stocks?

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