Tech stocks put sensex in the red

MUMBAI: The entire week turned out to be flat as far as the stock market is concerned. Because of all round selling, sensex today saw negative trading and opened on a flat note. During the afternoon, the BSE benchmark index was trading at 6492, down 52 points while the NSE Nifty is hovering at 2035, down 17 points. Technology stocks got a battering today due to selling pressure. The major losers include Infosys and Satyam.






The technology stocks are under immense pressure and the investors are cautious ahead of the earnings season. Analysts are desperately waiting for Infosys results after which they expect major upsurge in stock market, especially in technology stocks.





IT heavy weights Infosys and Wipro have slipped over two percent while Satyam and TCS were in red, down one percent.





The entire last month was disturbed and stocks continued to fell due to VAT. But the market is looking forward to the IT companies to come out with good results and give better guidance for next year after adjusting possible fall in the dollar. The markets would like to wait and see how the FII's are going to behave.