Infosys Technologies (up 1.52% to Rs 1362.25), Satyam Computer Services (up 0.60% to Rs 392.30), Wipro (up 4.43% to Rs 393.30), and TCS (up 1.85% to Rs 824.45), edged higher. The BSE IT index was up 1.29% to 3,413.03.
Infosys Technologies saw volumes of 1.59 lakh shares, Satyam Computer Services clocked volumes of 1.89 lakh shares), Wipro notched volumes of 1.06 lakh shares while 90,068 shares were traded on the TCS counter on BSE.
The BSE Sensex was up 96.04 points or 0.64% to 15,090.87 on positive cues from the global markets. On Thursday, 20 March 2008, US stocks closed their best week in nearly two months and are seen extending the solid rally this week, bolstered by the Federal Reserve's aggressive liquidity action.
The BSE IT index outperformed the market over the past one month to 19 March 2008, declining 12.47% as against the Sensex's 17.04% decline. It underperformed the market in the past three months, sliding 22.01% against the Sensex's fall of 21.75%.
Meanwhile, the Indian rupee was trading at 40.35/36 per dollar, stronger than Wednesday's close of 40.43/44. The currency market was shut on Thursday and Friday for religious holidays.
IT firms derive over 50% of their revenues from exports to US markets.