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Market Now: IT stocks gain as Accenture results beat estimates

Shares of IT companies were trading higher in early trade after Accenture’s quarterly revenue beat estimates and their forecast for growth in fiscal 2018 was in line with analysts’ expectations.

The Nifty IT index was up 0.26 per cent at 10,549 around 09:30 AM (IST) on Friday.

Accenture’s net revenue for the fourth quarter rose to $9.15 billion, beating estimates of $9.01 billion, according to Reuters.

Shares of Infibeam Incorporation (up 1.75 per cent), KPIT Technologies (up 1.41 per cent), Tata Elxsi (up 0.97 per cent), HCL Technologies (up 0.83 per cent) and Infosys (up 0.41 per cent) were among top gainers in early trade, while Tata Consultancy Services (down 0.16 per cent), Wipro (down 0.07 per cent), Tech Mahindra (down 0.12 per cent), Oracle Financial Services Software (down 0.39 per cent) and MindTree (down 0.40 per cent) were among top losers on the index at around the same time.

Benchmark NSE Nifty50 index was up 54.15 points at 9823.1.

Among the 51 stocks in Nifty index, 44 were trading in green, while 7 were in red.

Shares of GAIL, Ashok Leyland, Vedanta Ltd, DLF, Bharti Infratel were among most traded securities on the National Stock Exchange on Friday.

The BSE Sensex was up 153.67 points at 31,436.15. Shares of Orient Press, LCC Infotech, Gulf Oil Corp, Premier Poly, Anik Industries hit their fresh 52-week high in today’s trade, while SAB Events & Governance Now Media , Adhunik Industries, TV Vision and Sri Adhikari hit fresh 52-week low in trade.

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