At 14:05 IST, the BSE Sensex was down 24.19 points or 0.14% at 17,502.74.
The BSE IT index outperformed the Sensex, rising 4.23% at 3,862.20, mirroring a rebound in US market on Thursday, 7 February 2008.
The index lost 9.5% in last three days till Thursday, 7 February 2008, at 3,705.30 from 4,097.61 on 4 February 2008.
The BSE IT index had outperformed the market in the one month to 7 February 2008, falling 12.93% as against the Sensex's 16.02% decline. It had, however, underperformed the market in the past three months, falling 12.88% against the Sensex's 7.30% slide.
Among the IT index gainers, Infosys Technologies soared 5.06% to Rs 1,555.90, Rolta India jumped 4.40% to Rs 289.70, Satyam Computers flared up 4.39% to Rs 408, TCS moved up 3.40% to Rs 913 and Wipro rose 2.49% to Rs 420.05.
Indian IT firms derive more than half of their revenues from US market