Money on the markets
A maturing market amid the mayhem
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.
Top IT stocks Infosys, Wipro and TCS touched their 1-year highs as the BSE IT index closed 0.7 percent higher.
Top IT firms Infosys Technologies and TCS were among the top Sensex losers, falling 0.83 percent and 0.63 percent respectively. Patni Computer dropped over 3 percent.
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.
Top IT companies posted smart gains with Patni Computer leading the sectoral index with a 7 percent rise. Shares of Wipro, TCS and Infosys touched their 52-week highs.
The rupee movement versus the dollar has also been supportive for this industry, which receives significant revenue in foreign currency. The rupee has strengthened to below 48/dollar from near 52/dollar levels in March this year.