New Delhi: After Wednesday’s sharp fall and a weak opening, the markets on Thursday rebounded during opening trade triggered by firming global markets.
At 0956 hrs IST, benchmark index, Sensex was up 19 points at 13343 and broad based Nifty was up 3 points at 3853.
However, technology stocks remained under pressure despite impressive third quarter earnings posted by Infosys Technologies.
As its better than expected third quarter results failed to make any immediate impact, Infosys was down over 3 per cent in opening trade followed by Satyam, Wipro and Bharti.
Major gainers in the opening trade were L&T, HLL, BHEL and ACC.
Sugar stocks were also in good demand on expectations that the government might completely lift ban on the export of the sweetener.
The Infosys Q3FY07 results have come, which is very much in line with expectation.
In line with expectations, Infosys Q3FY07 revenues have improved by 5.9 per cent (QoQ) at Rs 3655 crore Rs 3451 crore in Q2FY07. Its PAT has gone up by 5.81 per cent (QoQ) at Rs 983 crore in third quarter against Rs 929 crore in previous quarter.
Asian stocks were also trading higher, Japan's Nikkei was up 0.25 per cent or 42.56 points at 16,984.96, Hong Kong's Hang Seng gained 0.40 per cent 78.95 points at 19,647.29, South Korea's Seoul Composite advanced 1.20 per cent or 16.21 points at 1,372, Singapore's Straits Times surged 0.37 per cent or 10.90 points at 2,972.05. However, Taiwan's Taiwan Weighted fell 0.15 per cent or 11.19 points at 7,687.33.
The Dow Jones industrial average has raised by 25.56 points, or 0.21 per cent, to 12,442.16.
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