Showing semblance of steadiness on the back of smart rally in IT counters, the S&P CNX Nifty today recouped by 66 points despite weak Asian advices, cutting short two days of steep decline.
Allaying fears of any major impact of negative budget proposal, yesterday's battered IT shares were in keen demand and closed with sharp gains.
Activity was mainly confined to frontline stocks and the market breadth was negative.
As many as 547 shares declined, 470 advanced and 28 ruled steady with 106 securities hitting their price bands.
The S&P CNX Nifty moved erratically in a range of 3,818.75 and 3,718.15 before concluding the day at 3,811.20 from Wednesday's close of 3,745.30, revealing a gain of 65.90 points or 1.76 per cent.
The CNX IT hardened by 216.70 points to 5,346.30, the Bank Nifty firmed up by Rs 148.65 points to 5,388.95, the CNX 100 by 57.60 point to 3,683.80, the S&P CNX Defty by 51.15 points to 2,983.45, the S&P CNX 500 by 39.75 points to 3,147.50, the CNX Nifty Junior by 38.95 points to 6,761.05 and the CNX Midcap by 16 points to 4,893.35.
Top five S&P CNX Nifty gainers were HCL Tech, Rcom, Satyam comp and Wipro while lossers were Zeel, Bajaj Auto, Gujamb Cement and ACC.
The total turnover declined to Rs 10,061.04 crore from Rs 12,686.73 crore on Wednesday. A total number of 5,536.70 lakh shares changed hands in 39,90,509 trades. Total Market Capitalisation stood at Rs 33,37,982 crore.
IT counters help Nifty to recover 66 pts
Publish Date : 3/2/2007 7:03:00 AM
Showing semblance of steadiness on the back of smart rally in IT counters, the S&P CNX Nifty today recouped by 66 points despite weak Asian advices, cutting short two days of steep decline.
Govt proposes to set up three new IITs
Publish Date : 2/28/2007 8:32:00 AM
Government proposes to set up three new Indian Institutes of Technology (IITs) in Andhra Pradesh, Bihar and Rajasthan.
India's semiconductor sector may upstage IT sector: ISA
Publish Date : 2/24/2007 8:29:00 AM
Semiconductor industry is heading the same way the IT sector took 15 years ago, with the domestic demand for chips slated to reach 36 billion dollars by 2015.
India's IT market to grow at 21.5 pc to touch Rs 750.891bn
Publish Date : 1/29/2007 8:29:00 AM
Driven by huge investments across various sectors, India's domestic IT market is expected to grow at 21.5 per cent this year at Rs 75.891 bn, making it the fastest-growing segment in the Asia-Pacific region.
Bangalore - the gleaming IT hub hides a volatile core
Publish Date : 1/22/2007 11:32:00 AM
Days after leading IT powers here flashed spectacular third-quarter results, pockets of the city housing the forgotten masses broke into violence with several injured in the mindless arson that left parts of India's .....
IT stocks plunge on Satyam earnings, global cues
Publish Date : 1/20/2007 7:42:00 AM
Shares of IT majors fell across the board today on funds selling, triggered by poor performance of software major Satyam Computer Services in the third quarter as well as reacting to a fall in the tech-heavy NASDAQ Composite Index.
Maran hardsells India at Silicon Valley
Publish Date : 6/15/2005 8:10:00 AM
IT Minister Dayanidhi Maran Tuesday returned from a five-day visit to San Francisco where he projected India as a strategic hub...
Dominican Republic to open embassy in Delhi
Publish Date : 6/11/2005 8:50:00 AM
The Dominican Republic will soon open an embassy in New Delhi, the Caribbean country's IT Minister Eddy M. Martinez...
Amid Sanskrit prayers, MIT students receive degrees
Publish Date : 6/11/2005 7:29:00 AM
Amid chants of Sanskrit prayers on a bright and sunny morning, some 2,300 students of the Massachusetts Institute of Technology (MIT)...
Indian American animator's works get unusual tribute
Publish Date : 6/10/2005 6:57:00 AM
The award-winning animation films of Indian American Manick Sorcar have become the subject of a research paper in the US...
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