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Tech stocks fall. Markets hold flat trades

The Sensex and the Nifty opened flat in the trade today.

TCS, Infosys, Wipro and HCL Tech were down 3-4% after Cognizant cut its revenues and profit guidance for FY12 to 20% from earlier 23%.

The BSE benchmark was down 13.37 points to 16,899.34 and the NSE benchmark went down 1.2 points to 5,112.95.
L&T, BHEL and ICICI Bank were down moderately.
However, GAIL gained 3.5%, topping the buying list. Bank of Baroda, Hero Motocorp, Maruti, ITC, SBI, Reliance Industries, HDFC, IDFC, Cairn India, DLF and Jaiprakash Associates too were on buyers’ radar.

The CNX Midcap Index gained 35 points at 7,275. About two shares advanced for every share falling on the National Stock Exchange.

In the second line share segment, Petronet LNG was up 3.5% and Indraprastha Gas went up 2.5%. Escorts, NIIT, United Phosphorous and Kingfisher were up 1-3%. Ceat rose 3% ahead of quarterly numbers.



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