Tuesday February 19, 11:30 AM
Markets turning around... |
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By Equitymaster.com
The markets have recovered during the last hour due to buying in technology stocks. Media stocks are also witnessing buying interest. However, banking and PSU stocks are witnessing profit booking. Auto stocks are also a mixed bag.
The BSE Sensex is at 3,632 (down 2 points) and the NSE Nifty is at 1,170 (down 3 points). The rupee is trading at Rs 48.66 per US dollar.
Airbus has hired Infosys to provide services for wing design. Project wins of this nature will help Infosys penetrate the high end engineering services market. Infact, engineering services that contribute 2.5% to Infy's revenues, has shown one of the strongest growths in 9mFY02 (106%). The gainers list from the sector includes Wipro (WIPRd.BO, news) and Satyam. HCL (HCLL.BO, news) Infosystems (4%), Geometric Software (5%) and Ramco Systems (7%) are up sharply.
Amongst the index heavy weights only Reliance (RELI.BO, news) industries is in favour. Reliance Petro, HLL and ITC (ITCd.BO, news) are witnessing selling. HLL had gained sharply during yesterdays trading. From the PSU group HPCL is witnessing buying the stock is up by 2%. MTNL (MTNL.BO, news) and BPCL are out of favour.
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