Sensex down over 38 points
The BSE Sensex today failed to come out of the Satyam shock though software major Infosys recorded better earnings, and ended with a loss over 38 points.business Updated: Jan 13, 2009 17:05 IST
The Bombay Stock Exchange benchmark Sensex on Tuesday failed to come out of the Satyam shock though software major Infosys recorded better earnings, and ended with a loss over 38 points.
The Sensex, which was down by nearly 1,050 points in the last two trading sessions after the Satyam fraud came to light and Wipro was debarred by the World Bank from bidding for projects, added another loss of 38.69 points, ending at 9,071.36.
The 50-share National Stock Exchange index Nifty fell by 28.15 points at 2,744.95, after hitting the day's low of 2,720.80 and a high of 2,802.60 points.
The key index dipped below 9,000 points and shuttled between 9,261.00 and 8,992.92 during the day. Every surge in the market was supported by market-heaviest Infosys Technologies, recording a profit of over 33 per cent during the last quarter ended December 31.
The IT sector index gained the most by rising 4.71 per cent at 2,147.69 as Infosys added 6.36 per cent, the most in two months. Second-largest software exporter Wipro rose by 6.05 per cent and Tata Consultancy 2.16 per cent as better earnings by Infosys boosted trading in IT stocks.
Trading sentiment was partially spooked by a fall in western stock markets and uncertainty over corporate results by blue-chip companies.