IT index starts Q1 on stronger note


IT index starts Q1 on stronger note
Bangalore: With most of the IT firms reporting stunning growth in fourth quarter of previous fiscal (2009-10), IT index emerged as the investors' favourite in the week, as the index gained 3.53 percent. Indices which followed IT Index are Realty and Consumer Durables with gains of 1.3 and 3.4 percent, respectively. Banking, Consumer Goods and Capital Goods are the indices, which ended the last week on weak note with loss of 3.31, 3.04 and 1.24 percent, respectively. Many of the experts feel that in 2010, most of the IT firms would witness strong growth. According to National Association of Software and Services Companies (NASSCOM), the information technology (IT) sector In India will grow by 4-7 percent this fiscal and is expected to attain a double-digit growth in the next fiscal starting from April 2010. Som Mittal, President of the Nasscom, said that the economic activity in the country is apparently speeding up, the technology companies are hiring again, and acquisitions and mergers are on the cards.