Equity Alert: Mkt off lows, but Nifty still below 4900; IT cos up

[K.Karthik Raja]

------------------------------------------------------------------------------
Equity Alert: Mkt off lows, but Nifty still below 4900; IT cos up
MUMBAI--12:45PM--Share indices were down around 1%, but off lows
hit
earlier in the session on buying in the technology sector.
Sensex was at 16416.66, down 232.98 points, or 1.4%. Nifty was at
4892.80,
down 53.90 points, or 1.1%.
Dealers said flows from foreign institutional investors were lower
than
usual as U.S. and U.K. markets are closed today.
Capital goods and bank shares were the worst hit on Nifty. Bharat
Heavy
Electricals was down 5%, while State Bank of India fell 2%.
In the technology pack, Tata Consultancy Services and Infosys
Technologies were up 2% each on defensive buying, dealers said.
Sun Pharmaceuticals, up 3%, was the top Nifty gainer.