Sensex is trading down by 781 points at 15761. Restricting the gains are Rel Energy (1300,-11percent), Bajaj Auto (1913,-10 percent), ICICI BANK (874,-9 percent) and Hindalco (191,-8 percent).
NIIT Technologies has entered into a strategic partnership with Ramco Systems, a global provider of innovative software products and services. NIIT Technologies' recently launched its new paradigm offering, 'Software as a Service' (SaaS), which will deliver process based application solutions through an innovative, business transaction-based, SLA driven and highly secure delivery model. The company has gone live with its procurement solution, procure easy which is fast gaining traction. As the SaaS is relatively very new it would take some time to deliver things and also the approachable market for this type of platforms is very high. NIIT Tech has been facing some problems from the Room solutions revenues and also from the Adecco JV.
Technically Speaking:- Indices started the day on a weak note and slipped further down as the sessions progressed. Sensex made an intraday high of 16212 and low of the day at 15690 levels. Declines are edging their way ahead then the Advances. Declines are 2415 against Advances of 149. Volumes have been extremely low as it churned around Rs 2771 cr so far. Close below 15800 can take the sensex upto 14000 levels.