Technology majors rejoice
Mumbai: After touching an intra-week low of 4599.61, the BSE Sensex recovered to close at 4802.28 (on Saturday) as against the previous week close of 4930.53, say reports. The NSE's S&P CNX Nifty closed the week lower at 1521.95 (1569.45). The indifferent sentiment at the US bourses coupled with Microsoft's cautious outlook spoiled the party for the Indian ADRs, particularly tech counters. This was despite Satyam Computer announcing an impressive second quarter financial performance.

For the quarter ended September 2003, Satyam posted a net profit of Rs 147.59 crore as against Rs 118.90 crore recorded for the same period last fiscal, registering a jump of over 24 per cent. Satyam Computer closed the week lower at $16.65 ($17) while Infosys dropped to $79 ($80.30) and Wipro slipped to $33.55 ($36.90). In fact, almost all the counters closed the week in negative territory.
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