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BSE IT index gains 3.15 pct

October 13, 2010

Bombay Stock Exchange buildingIT stocks posted smart gains on Wednesday as IT cos’ stocks gained on expectations of strong quarterly earnings.

Oracle Financial Services Software ended 4.6 percent higher as the top gainer in the index.

Infosys Technologies, which will unveil its results on Friday, gained 2.5 percent. Tata Consultancy Services and Wipro gained 4.6 percent and 4.5 percent respectively.

Top IT services firms are set to ring in robust quarterly profits aided by strong demand from western clients, but a rising rupee is seen crimping profit margins in the second half.

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