Techies shine in a stagnant market
Wednesday, 14 April 2010
MUMBAI, Apr 13 (Business Standard): The Sensex is now quoting at 17,823, down 29 points and the Nifty is 5,324, down 14 points.
The markets have recovered considerably from the day's lows and have not looked back since. The credit goes largely to Infosys. The IT powerhouse has assumed leadership position and other IT stocks have merely toed the line.
The Sensex is now quoting at 17,826, down 25 points and the Nifty is 5,324, down 14 points. The CNX IT is up 2.7 per cent at 6129.
Infosys Technologies has vaulted by 3.1 per cent at Rs 2768 to be the leading gainer on the Sensex. In the process, the stock recovered nearly 5 per cent from the day's lows of Rs 2,635.
The IT bellwether gave a strong guidance in dollar terms, indicating robust outsourcing demand. The company projected a 16-18 per cent growth in revenue between $5.57 billion and $5.67 billion for the current year.
The markets have recovered considerably from the day's lows and have not looked back since. The credit goes largely to Infosys. The IT powerhouse has assumed leadership position and other IT stocks have merely toed the line.
The Sensex is now quoting at 17,826, down 25 points and the Nifty is 5,324, down 14 points. The CNX IT is up 2.7 per cent at 6129.
Infosys Technologies has vaulted by 3.1 per cent at Rs 2768 to be the leading gainer on the Sensex. In the process, the stock recovered nearly 5 per cent from the day's lows of Rs 2,635.
The IT bellwether gave a strong guidance in dollar terms, indicating robust outsourcing demand. The company projected a 16-18 per cent growth in revenue between $5.57 billion and $5.67 billion for the current year.