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50 cities identified by Nasscom for IT, ITeS sector
Nasscom (National Association of Software and Services Companies) has identified 50 cities for the IT and ITES sector, by classifying them as leaders, challengers, followers and aspirants.

Wkly Tech Analysis: Nifty may move in 4,640-4,900 band
In a week marked by high volatility, markets corrected sharply only to bounce back with greater strength. Last week, it was mentioned that the markets might stage a July-like recovery amid high volatility. Although, markets have bounced back sharply, chances of a full recovery look remote currently. Going forward, one needs to watch the 15,530-15,640 zone for the Sensex as crucial for the current upmove to remain intact. As and when it comes below this level, the index is likely to test its long-term support of 14,800.

News of the day

2009: Deora presides over fall of oil sector, its men
Petroleum Minister Murli Deora, an otherwise able administrator, may earn the distinction of presiding over the fall of individuals and institutions in oil sector in a year when he also faced accusations of taking sides in corporate battles.
Business Opportunities

Markets have a sedate start

Considering the weak US and Asian cues, our markets have opened on a quiter note. The Sensex is quoting at 16,714, down 71 points, and the Nifty is at 4962, down 26 points. - US markets end weak - Sensex falls most in two weeks - Spice Finance plans to buy 15% in NMCE - Sensex sheds 213pts on profit booking - Sensex ends down 226pts - Sensex tumbles over 250pts The top Sensex losers are ICICI Bank (weaker by 1.4% at RS 873), M&M (down 1.2% at Rs 1,001) and SBI (lower by 1.1% at Rs 2,253). DLF and Reliance Infrastructure have shed slightly more than 1% each. The leading Sensex gainers are ONGC (higher by 0.5% at Rs 1,169), NTPC (firmer by 0.4% at Rs 214) and Grasim (up 0.2% at Rs 2,280). The market breadth is weak. Out of 1,345 stocks traded on the BSE, there are 573 advancing stocks as against 724 declines.


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