Quarterly hopes boost technology stocks

DALAL STREET SPIKES

Technology stocks hogged the limelight on Thursday ahead of their quarterly results. Among the first to announce the quarterly performance, frontline tech stocks are witnessing renewed buying interest.

On Thursday, three of the top five Sensex stocks were from the technology sector. Wipro was 6.49 per cent up at Rs 671.10, Infosys Technologies up 3.84 per cent to Rs 2252.55 and Satyam Computer ended 3.01 per cent higher to close at Rs 408.50. The BSE Tech Index gained 3.42 per cent to close at Rs 1,732.

A head of research at a broking firm said, "Technology stocks are witnessing renewed buying and are considered as defensive stocks as the results are expected to be in line with the street expectations."

Sources said a leading foreign broking firm has put a buy call on Satyam Computer, citing strong quarterly results for the current quarter.