IT stocks up on ECB curbs, Infosys 5% Up, TCS 4% Up

The markets have gained some more points and are trading strong on the back of heavy buying seen in IT stocks. Banking, realty and auto stocks are also in focus today. The volume has been very impressive since opening today and the market breadth is positive with nearly 2200 stocks on advancing side and about 700 stocks on decline side. Rupee has reacted sharply and has depreciated on account of tightening of ECB norms by the government which is expected to put check the foreign currency inflows. Rupee is trading at Rs 40.59 versus US dollar. At 10.45 hrs IST, the Sensex is up 307.54 points or 2.06% at 15240.31, and the Nifty up 82.80 points or 1.90% at 4439.15. About 2173 shares have advanced, 744 shares declined, and 73 shared are unchanged. IT index was trading up 4.85% at 4842.33. Major gainers in the IT index were Sensex are Satyam at Rs 492 up 6.26%, Infosys at Rs 1,991.10 up 5.98% and TCS at Rs 1,163.50 up 5.02%.

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