Sensex Friday closed below the psychologically important 17,000-point mark Friday. It ended 198 points lower, giving up gains earned on the back of better than expected results from heavyweight Reliance Industries.
With demand improving and new deals flowing in, Indian IT companies have started the third qarter earning season on a good note, indicating that the sctor is coming out of financial meltdown last year.
A benchmark index of the Indian equities markets reversed intra-day losses Wednesday to close 92 points up even as a Chinese monetary policy change resulted in the weakening of other major Asian markets.
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.
The Bombay Stock Exchange (BSE) has joined hands with Netmagic Solutions,a leading managed IT service providers, for launching its first collocation facility at BSE premises, the exchange said in a press note.
The BSE Sensex snapped a four-day rally on Thursday and shed 85 points, as funds booked profits in heavy-weight stocks led by software counters on concerns that a stronger rupee will hurt their revenues.