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BSE IT index gains nearly 2 pct

August 18, 2010

IT stocks posted decent gains on Wednesday, pushing the sectoral index up nearly 2 percent as robust profits from U.S. retailing giants boosted confidence in the corporate outlook in the world’s largest economy.

Mphasis topped the BSE IT Index with a 3.8 percent gain, followed by HCL Tech which rose 3.1 percent. Bigger players like TCS and Infosys posted gains of 2.1 percent and 1.92 percent respectively.

Only two stocks in the index – Patni and Tech Mahindra – ended in the red.

The sectoral index is up marginally this month. Would you invest in an IT counter at this stage?

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