Punjab, Oct. 16 -- The Sensex rose 413.66 points on Friday to 74,729.27, a second straight gain, with the Nifty up 148.80 to 23,146.15. The IT index rose about 4 per cent - two days after Wipro disclosed that its large-deal bookings had fallen 59 per cent.
The contradiction is widening
On Thursday the IT pack led a 1,534-point Sensex surge. On Friday it did it again, with the index up 4 per cent in a single session. In between, Wipro reported total bookings down 22.9 per cent sequentially and large-deal bookings down 58.6 per cent to 674 million dollars, and guided to roughly flat revenue for the December quarter.
Both things are being driven by the same earnings season. HCL Technologies and TCS beat on reported numbers; Wipro missed on ...