The Sensex finally settled with a loss of 65 points at 14,188.
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IT stocks on Wednesday rose as much as 3 per cent in an otherwise weak stock market after sentiments turned buoyant amid the rupee sinking to an all-time low of 60.35 against the dollar, as the stronger US currency boosts the sales of software firms in rupee terms.
Infosys management has guided for a seven per cent growth in FY15.
Cadila Healthcare Ltd said on Thursday, said German Remedies, a part of the Zydus Group, has launched Fludara Oral (Fludarabine) in the Indian market for the treatment of chronic lymphocytic leukemia.
The Sensex closed below the 12000 level at 11,970.47 down 100.83 points and the Nifty slipped below 3,450 mark during the day and closed at 3,457 down 35 points.
The Sensex closed at 12,009.59 up 37 points. The Nifty gained 7 points to close at 3,479.
Sectors like the BSE IT, Bankex, FMCG, Healthcare and Oil indices, which gained sharply today, were obviously the ones that drove the Sensex to 12K.
The Sensex closed at 11,706.85 up 87 points. The Nifty gained 25 points to close at 3426.
At 11.58 am IST, the Sensex is up 59.24 points or 0.47% at 12682.52, and the Nifty up 8.10 points or 0.22% at 3665.4.
At 9:58 am, the Nifty was trading at 3573 up 4 points and the Sensex was trading at 12393 up 26 points.
Shares of IT major TCS on Friday tumbled over 8 per cent after its September quarter numbers failed to meet market expectations.
Ayan Pramanik and Shivani Shinde Nadhe report on the uncertainties that have dragged down shares of TCS, Tech Mahindra and HCL Technologies.
Tata Consultancy Services scrip ended the day 4.27 per cent higher at Rs 2,214.65 apiece on the BSE.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
Other Sensex gainers were Infosys, Wipro, ICICI Bank, Hero MotoCorp, L&T, Axis Bank,, Tata Steel, HDFC and Cipla.
IT stocks attracted robust demand on Monday, rising by as much as over 2 per cent, on hopes that the rupee's weakness will boost dollar revenues of the software firms.
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
United Phosphorus' awesome recent run continued today as it sprang a solid 13.8% to Rs 278.80 in early trades. It had even hit Rs 287.90 barely as trading commenced today.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
Welspun-Gujarat sewed up gains in early trades after the company announced pipeline orders to the extent of US$ 102 million from Iranian oil projects.
Tisco slumped in early trades, in striking contrast to its recent upbeat run, as the scrip went ex-dividend from today.\n\n\n\n
Satyam Computer has been under sustained selling pressure ahead of the announcement of its quarterly results next week, especially after the dismal performance of tech majors like Infosys Technologies and Wipro. \n\n\n\n
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
Hughes Software Systems has done exceedingly well among software stocks of late, largely on institutional buying support.
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
Markets opened marginally higher helped by a rebound in index heavyweights
Blue Star Infotech has been a major loser among software stocks in the last few sessions, what with the companys Q3 results disappointing the market.
Earning woes drag markets lower; TCS, HUL lead fall.
As Nasdaq-listed company indicates poor spending in financial services space, Indian firms feel jittery
Tech stocks were spurred on today by the firm U.S. markets and bargain hunting.
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
The rupee fell to a two-year low of 64.84 against the US dollar.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
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