Sensex opens on a listless note; Infosys shines

Mumbai, Jul 12: The market shrugged off yesterday's serial blasts in Mumbai and marched on to higher levels in early trade thanks to splendid results card from IT bellwether Infosys Technologies this morning, brokers said here this morning session.

The company has also revised upwards its earnings forecast for the remaining quarters.

The BSE Sensex, which eased to a low of 10,565.84 after opening at 10,604.64, is down with a marginal loss of 17.86 points or 0.17 per cent at 10,596.49 now.

The National Stock Exchange's 50 stock Nifty index, which touched a high of 3142.35, hit a low of 3078.25 before recovering to 3107.50, netting a loss of 0.28 per cent or 8.65 points. The Sensex had hit a high of 10,707.71 before easing down to its current level.

Following a sharp surge in values of information technology stocks, the BSE IT index has gained nearly 4 per cent now. The Teck index, which comprises of a number of IT, communications and media stocks, has climbed up 2.6 per cent.

Infosys Technologies, which shot up to a high of Rs 3,350 following a 50 per cent jump in its quarterly net profit, has eased a bit to Rs 3,328, but still remains high up in the positive territory with a 5.65 per cent gain.

Tata Consultancy Services (3.3 per cent), Satyam Computers (2.75 per cent) and Wipro (1.8 per cent) have also risen sharply over their previous closing prices.

HCL Technologies, a Nifty component, has recorded a gain of around 4.5per cent.

FMCG major ITC and telecom player Bharti Airtel have gained 0.75 per cent each at Rs 177 and Rs 384.75 respectively.

Engineering and construction sector giant Larsen&Toubro, the other gainer in the Sensex, is up marginally at Rs 2,172.

Tata Steel, Reliance Energy, Tata Motors, Cipla, HDFC, NTPC, State Bank of India, Bajaj Auto, Hero Honda, Maruti Udyog, Reliance Communications Ventures, Hindustan Lever, Grasim Industries and Ranbaxy Laboratories have suffered sharp losses.

ONGC is down by around 0.8 per cent at Rs 1101. ACC, BHEL and Dr.

Reddy's Laboratories have lost 0.5 per cent - 0.75 per cent from yesterday's closing levels.

UNI