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BSE IT index gains

The BSE IT Index soared 2.49 percent in a broader market that closed 0.8 percent higher at 19,502 after U.S. retail sales data boosted optimism over recovery in the world’s largest economy.

Stocks which led the index rise were Oracle Finance (up 5.3 percent), Infosys (up 2.49 percent) and TCS (up 2.1 percent).

Infosys and TCS touched there 52-week high during trade.

Do you think it is the right time to invest in technology stocks?

Bad day for IT stocks

Export-oriented software companies shed the most today, with the BSE IT index declining 1.4 percent after the recent rally in IT stocks.

Leading the index decline were heavyweights Infosys, Oracle Finance and TCS, which dropped 1.4 percent, 1 pct and 1.5 percent respectively. TCS and Infosys were the top Sensex losers too.

Overall, the IT index is still in healthy territory – up 2.1 percent for the month and over 7 percent for the year.

Stalwarts TCS and Infosys too have shown good gains, rising over 15 percent and 8 percent respectively for the year.

But what could weigh on sentiments is the appreciation in the rupee and Europe’s economic recovery.

Do you think it is the right time to invest in IT stocks?

BSE IT Index drops, Infosys leads the decline

The BSE IT Index ended 2.68 percent lower on Tuesday weighed down by Infosys Technologies’ surprise 2.6 percent drop in April-June profit.

The country’s No. 2 outsourcer said before market hours its sales contribution from Europe fell to about 20 percent from nearly 25 percent a year ago and 23 percent in January-March.

Infosys, which led the BSE IT Index decline, dropped 3.4 percent, while Tech Mahindra and TCS slipped 1.4 percent and 2.09 percent respectively.

Top Indian service exporter TCS is schedule to declare results on Thursday.

Aptech Ltd and NIIT however bucked the trend, gaining xx percent and xx percent respectively.

“People will now adjust their expectations for other IT majors like TCS and Wipro,” said Tejas Doshi, head of research at Sushil Finance.

Do you think IT stocks are likely to further more?

Good day for IT stocks

The BSE IT Index ended 3.09 percent higher on Tuesday, mainly led by IT bellwether Infosys Technologies which rose 3.6 pct.

The main index however closed 0.17 percent lower, weighed down by weakness in global markets.

Outsourcer Infosys forecast stronger-than-expected annual revenue growth of 16-18 percent, noting that a pick-up in global technology spending was improving demand for outsourcing but said margins would be hit by a rising rupee. TCS, India’s top software exporter, surged 2.8 pct while rival Wipro closed 2.4 percent higher.

Do you think IT stocks currently make for good investment, with signs of a pick-up in global IT demand?

BSE IT index fall on rupee appreciation

The BSE IT Index continued its downtrend from yesterdays trade and ended nearly 1 percent lower on Tuesday.

Outsourcers that get most of their revenue from exports were weighed down by the rupee that strengthened to 19-month-high against the dollar on Monday and looked to climb further, which could squeeze profit margins of the companies.

The decline was mainly led by outsourcer major such as Tata Consultancy Services was down 0.98 percent and rivals Infosys Technologies and Wipro dropped 0.8 percent respectively.

Other stocks includes HCL Technologies down 3.7 pct, NIIT down 2.2 pct and Patni Computer System drops 1.5 pct

The BSE IT index has gained over 2 percent so far in the year.

Do you think appreciating rupee would lead to further downfall in the index?

BSE IT Index rises over 2 pct

Export-focused software stocks did well on Tuesday, helping boost the BSE IT Index 2.5 percent to its second straight day of gains.

The broader market ended 0.6 percent up with financials being among the losers.

Sensex heavyweights Infosys, Tata Consultancy Services and Wipro rose 2.9 percent, 1.4 percent and 2.4 percent respectively.

IT stocks have been getting support from the depreciating rupee which hit a seven-week low in the previous session.

All stocks in the IT Index, except Moser Baer, NIIT Tech and Tech Mahindra, ended in the green.

The index has given a net negative return of over 4 percent so far this year. Do you see an uptrend in this sector?

Tech firms gain

The BSE IT index ended 3.9 percent higher on Tuesday as the overall 30-share sensitive index ended 0.59 percent down.

Infosys Technologies raised its annual sales forecast as big financial services clients boost orders in an improving global economy, pointing to an industry recovery.

Shares in Infosys ended 3.9 percent higher at 2,587 rupees with a volume of 0.54 million shares.

Other players like TCS, Wipro surged over 4 percent. Stocks like Teledata Informatics slipped 3.5 percent while Moser Baer shed 2 percent.

Would you invest in the tech sector currently?

Outsourcers slide on rising rupee

Shares in top IT firms plunged on concerns the rising rupee would squeeze margins in the export-driven sector.

IT bellwether Infosys dropped 2.5 percent, while Wipro and TCS fell 4.2 and 3.3 percent respectively.

TCS, which contributes 2.3 percent in the 30-Share Sensitive index, led the pack in terms of turnover, ending with volumes of nearly 14 million shares.

The BSE IT Index, which has gained nearly 100 percent so far this year, ended 2.7 percent lower in a broader market that closed 0.9 percent down at 16,806.

An increase in foreign inflows helped the partially convertible rupee gain 11.9 percent from its record low of 52.2 in early March.

The combined traded volumes on two exchanges (National Stock Exchange and MCX-SX) stood at about $2.7 billion.

TCS gains 3.9 percent

Shares in India’s top IT services firm by sales gained nearly 4 percent in a broader market that ended 0.96 percent up at 16,853.

The stock which carries over 2 percent weightage in the main index, closed at 610 rupees with volumes of 0.58 million.

The BSE IT Index ended 2.2 percent higher, led by gains in TCS, Infosys and Oracle Finance.

TCS chief executive S. Ramadorai said in an interview on Tuesday the company was seeing signs of recovery in demand for outsourcing, especially from the banking, financial services and insurance sectors, which together account for 43 percent of its business.

TCS has gained over 150 percent in the current year.

The company is also looking at hiring 18,000 workers in the financial year ending March 2010.

According to NASSCOM, signs of recovery in the U.S. are yet to translate into real business for India’s outsourcing firms, but business is likely to pickup from the second half of the year.

Infosys drops in flat mkt

Shares of Infosys Technologies fell over 3 percent to 2,285 rupees on Thursday in a market that saw volatile trade with the expiry of monthly derivatives.

Infosys, which has an over 8 percent weightage in the main index, dropped as much as 80 rupees with a volume of 0.3 million, making it the top loser in the index which ended flat.

A news report today said the second-largest software exporter was considering pay hikes and promotions next month.

The report, however, failed to cheer investors.

The BSE IT index ended nearly 1.6 pct down with Infosys, Financial Technologies, Oracle and Patni leading the decline.

The global economy has started showing signs of recovery and it is the IT sector which is likely to benefit the most from the strengthening.

The counter has already gained over 100 percent so far this year. Do you see a correction setting in and the stock falling further in the near term?