IT shares bounce back
Mumbai: After declining for five trading days, information technology stocks have started moving up again. Sentiment about these stocks improved with news of a 101-point rise in the Nasdaq. The 25-basic point increase in interest rates announced by the US Fed Reserve resulted in buoying up equities as the increase was within the expected band.

The Bombay Stock Exchange’s 30-stock Sensex closed at 5201, which was 69 points higher than its previous close. On the National Stock Exchange closed at 1589.60, up 33 points over its previous close.

Infosys Technologies, Wipro, DSQ Software, PSI Data Systems, Polaris Software and Sonata Software hit their upper circuit-breakers. While pharmaceutical stocks were up, Hindustan Lever suffered a sharp beating on the bourses. Gainers included Videsh Sanchar Nigam, Gramophone Company, Tasty Bite, and Cynamid Agro.
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