Tuesday April 2, 11:30 AM
Software turns around... |
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By Equitymaster.com
The top rung software stocks that had opened in the red are now witnessing buying. These stocks have been witnessing selling in the past few days. Cement stocks are also in favour with the bourses. There is selective buying interest in pharma stocks.
The BSE Sensex is at 3,529 (up 29 points) and the NSE Nifty is at 1,145 (up 6 points). The rupee is trading at Rs 48.79 per US dollar.
SAIL has reported a 7% growth in production for FY02. The company's sales for the fiscal in terms of volumes grew by 6.5%. The export volumes for SAIL grew by 15%. The company has also managed to reduce its inventory during the year. The stock is up by 1%. Tisco is also witnessing buying and is up 2.4%. The buying interest in steel stocks is on the back of improved steel prices.
Amongst the software stocks Infy (1.5%), Satyam (2.8%), HCL (HCLL.BO, news) Tech (3.5%) and Wipro (WIPRd.BO, news) are witnessing buying. These stocks had witnessed selling in the recent past. Among the second rung software stocks Mastek (MAST.BO, news) , NIIT and VisualSoft (VISO.BO, news) are witnessing buying. However, Polaris is out of favour.
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