Auto Segment
Mutual Fund Segment
My Budget
Expert Speak
In Association With
Business Standard

IT shares tumble as Oracle results shock investors

Related News

Oracle Financial Services Software (down 4.26%), Infosys (down 2.45%), (down 2.42%), India (down 2.32%), iGate Patni (down 2.25%), (down 1.66%), Mahindra Satyam (down 1.40%), (down 1.28%), HCL Technologies (down 0.61%) and (down 0.60%), edged lower.

The IT index was down 2.08% at 5,629.73. It underperformed the Sensex, which was down 0.56% at 15,597.29.

The BSE IT index had outperformed the market over the past one month until 21 December 2011, gaining 4.95% compared with the Sensex's 1.64% decline. The index had also outperformed the market in past one quarter, spurting 10.51% as against 8.09% fall in the Sensex.

Dismal from Oracle Corp, the world's third biggest software maker, stoke renewed fears of a slowdown in global technology spending.

Oracle Corp reported a 17% growth in its net income to $2.19 billion for the second quarter ended 30 November 2011 on account of higher sales of new software licences. Its total revenues rose by 2% to $8.8 billion in the second quarter of the current fiscal.

According to media reports, Oracle's earnings fell short of market expectations for the first time in a decade due to slower demand for databases, applications and computer servers. The company's shares fell more than 11% in the US on Wednesday (21 December 2011).

Powered by Capital Market - Live News


Read more on:   

Read More

Hindustan Unilever leads gainers in 'A' group

United Spirits, Shriram Transport Finance Company, Colgate Palmolive (India) and Nestle India are among the other gainers.

Recommended for you

Quick Links


Back to Top