Indian Market are expected to trade in range on Thursday. 50 share nifty index was trading at 8756.00rs with level of 32 points or a change of 0.37 percent. Also BSE Sensex trends higher, it was trading at 11449.16rs with level of 164.16 points or a change of 1.45%.
Cognizant is a fairly large company and the way it has improved guidance and profitability, given the rise in the front-line IT might seem. The market has also been quite volatile, so if any of the defensive front, IT sector will be safe and attractive valuations.
Investment Bank recommended using positive stock reaction after cognizant’s result to trim positions in sector.
TCS is gained as much as 1.28 percent with above 31 points at 2546.06 in intraday today, other IT caps like Tech mahindra(0.63%), Wipro(2.33%), HCL Tech(2.02%), Mindtree(2.68) and Infosys(1.56%) rose today in BSE IT index.