Mixed Bag of First Quarter Results

The pendulum swung back into the red this week as a listless equity market gropes for direction. After riding on the back of impressive results from Infosys and Hughes last week, the markets gave up most of their gains due to poor result numbers with the 30-stock benchmark, Sensex shedding 113 points. A drop in Nasdaq with a fresh round of losses and profit warning also weakened the sentiment. Lower guidance numbers from Microsoft and IBM for next quarter coupled with Nortel's colossal loss pulled down the tech bellwether for the week. Back home, the first quarter results were a mixed bag for the technology sector - while Wipro and Digital were impressive, Visualsoft an