IT rebound continues; Infy, Wipro lead
Information technology shares continued to extend gains ahead of the third quarter earnings season. Wipro and Infosys Technologies took turns in leading the pack on Monday, with the benchmark BSE Sensex up over 500 points at 19,694.
By INDIATIMES NEWS NETWORK |
MUMBAI: Information technology shares continued to extend gains ahead of the third quarter earnings season. Wipro and Infosys Technologies took turns in leading the pack on Monday, with the benchmark BSE Sensex up over 500 points at 19,694.
At 11:37 am, Wipro was higher by 6.56 per cent at Rs 524.00. Tata Consultancy Services followed with 5 per cent gain at Rs 1,098, and Infosys up 4.87 per cent at Rs 1,781. The three led the 30-share Sensex components. Satyam Computer was up by 4 per cent at Rs 445.
Wipro has risen over 9 per cent in a week, TCS nearly 9.2 per cent, and Infosys around 11 per cent.
Among others, CMC advanced by 6.10 per cent to Rs 1,260, HCL Infosys gained 5.76 per cent to Rs 259, Patni Computer chalked up 4.47 per cent at Rs 327.15, Mphasis looked good by 3.83 per cent at Rs 298.50.
NIIT Technologies (up 3.57%), Aptech (2.7%), I-Flex (2.63%) and Moser Baer (2.23%) made up the rest of the gainers.
The gain in these shares was despite the dollar falling below 39.50 per rupee to 39.47 /48 following strength in Asian currencies and stock markets.
The Indian IT sector's recent woes are attributed to the domestic currency's 12 per cent gain against the greenback this year, which works against software exports from the country in exchange terms as US is the largest market or outsourcer.
At 11:37 am, Wipro was higher by 6.56 per cent at Rs 524.00. Tata Consultancy Services followed with 5 per cent gain at Rs 1,098, and Infosys up 4.87 per cent at Rs 1,781. The three led the 30-share Sensex components. Satyam Computer was up by 4 per cent at Rs 445.
Wipro has risen over 9 per cent in a week, TCS nearly 9.2 per cent, and Infosys around 11 per cent.
Among others, CMC advanced by 6.10 per cent to Rs 1,260, HCL Infosys gained 5.76 per cent to Rs 259, Patni Computer chalked up 4.47 per cent at Rs 327.15, Mphasis looked good by 3.83 per cent at Rs 298.50.
NIIT Technologies (up 3.57%), Aptech (2.7%), I-Flex (2.63%) and Moser Baer (2.23%) made up the rest of the gainers.
The gain in these shares was despite the dollar falling below 39.50 per rupee to 39.47 /48 following strength in Asian currencies and stock markets.
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The Indian IT sector's recent woes are attributed to the domestic currency's 12 per cent gain against the greenback this year, which works against software exports from the country in exchange terms as US is the largest market or outsourcer.
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