Sound sector financials boost infotech stocks

DALAL STREET SPIKES

Information technology stocks continue to hog the limelight after strong results posted by frontline stocks such as Infosys Technologies and TCS.

The BSE IT Index was the biggest gainer, up 4.78 per cent to close at 2,362.53. Infosys Technologies up 6.04 per cent to Rs 1,815.70 after touching a high of Rs 1,827.80 on sustained buying after strong quarterly results and an encouraging future guidance. The Infosys Tech ADS was up $ 1.49 on Wednesday to end at $ 60.38.

Other technology stocks such as Wipro was up 5.35 per cent to Rs 659.95 and Satyam Computer up 4.53 per cent to Rs 406.45.

Dealing room sources said strong buying support was also witnessed at the TCS counter. The stock was up 2.91 per cent to Rs 1,116.60 in Thursday's trading on the back of a strong volume of more than nine lakh shares on the BSE alone. The gains lifted select second-rung stocks as well.