Mumbai: The Bombay Stock Exchange 30-share barometer was up 131 points at 10:30am amid erratic movements in morning trade on Tuesday on announcement of better-than-expected third quarter results by IT bellwether Infosys Technologies. Brokers said the markets began weak and moved irregularly in the initial 15 minutes of trade due largely to Foreign Institutional Investors’ (FII) negative activity and weak trend in the US and some of the Asian markets. Bouncing from a low of 9,035.11, the benchmark Sensex was quoted higher at 9,241.38 points at 10:30am, a net gain of 131.33 points or 1.44% from its previous close. The 50-share Nifty of the National Stock Exchange also was up 26 points or 0.94% at 2,799.10 at 10:30am from its last close. FIIs were net sellers to the tune of Rs563.57 crore in equity on 12 January, as per the provisional data on the NSE. The Dow Jones Industrial Average was down 125.21 points or 1.46% on Monday night while Japan’s Nikkei was trading lower by 4.57% and Shanghai Composite Index by 1.19% this morning. Software major Infosys announced a 33.31% growth in consolidated net profit at Rs1,641 crore for the third quarter ended 31 December, 2008, over the corresponding period in 2007. Shares of Infosys spurted by 5.74% in early trade. The BSE IT index soared by 3.59% following a smart rally in software stocks.

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