US data lifts IT stocks

Five IT pivotals gained between 2.77% to 5.69% on BSE on hopes a US recession might not be deep as feared.

The BSE IT index was up 3.31% at 3,765.07. Wipro (up 5.69% at Rs 438), Satyam Computer (up 4.97% at Rs 427.50), Rolta India (up 4.27% at Rs 282.35), TCS (up 3.45% at Rs 880.20) and Infosys Technologies (up 2.77% at Rs 1523), edged higher.

The US private sector added 8,000 jobs in March 2008, according to a report on Wednesday by ADP Employer Services, surpassing economist expectations. IT firms derive more than half of their revenue from exports to US.