Zeenews Bureau
Mumbai:Even as IT shares rose 4 per cent, buoyed by the less than expected fall, Sensex was trading flat today morning at 17519 points, down by only around seven points than previous close or only a marginal change of 0.04 percent.
Analysts said that the street was expecting a more subdued Q3 figures, but the 3.6 per cent Y-o-Y decline in net profit of the IT bellwether stimulated buying in the entire IT counter.
Shares of the country's second largest software exporter, Infosys Technologies, jumped 3.4 per cent to Rs 2,573 after the outsourcer reported a quarterly profit of Rs 1,582 crore, a dip of 3.6 per cent over that in the same quarter in 2008.
The country's largest software firm TCS jumped 4.30 percent to a high of Rs 745 on BSE. Wipro rose by 3.82 per cent to Rs 687.50 and HCL Technologies was up 3.21 per cent at Rs 366.50.
"Investors are expecting that the other sector companies would report a similar kind of earnings growth or even better figures. This helped buying in the counter," SMC Global Vice President Rajesh Jain said.
(With PTI inputs)
First Published: Tuesday, January 12, 2010, 13:59