Shares of Infosys Technologies today witnessed volatile trading in the morning session after the

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software exporter reported a marginal rise in March quarter net profit.

On opening Infosys gained 2.29 per cent to a high of Rs 2,744.70 on the BSE, but within minutes fell nearly two per cent to a low of Rs 2,635.

Analysts said the street was expecting a better performance from Infosys as there were signals of improving demand for the outsourcing industry during the quarter.

On the National Stock Exchange the scrip remained volatile and fell 1.79 per cent to Rs 2,635, after touching a high of Rs 2,742.90. A total of 24 lakh shares changed hands on the two bourses.

Infosys, the country's second largest software company, today reported a 0.25 per cent rise in consolidated net profit at Rs 1,617 crore as per the Indian accounting rule. For the fiscal the company reported a 4.64 per cent growth in net profit at Rs 6,266 crore.

"It is more of neutral kind of a earnings posted by Infosys. Overall the market is in the red and this put some pressure on Infosys also," SMC global Vice President Rajesh Jain said.

The Infosys counter had gained about 0.4 per cent in the January-March quarter, slightly below the one per cent rise in the sector index. The company, whose market capitalisation stands at Rs 1.53 lakh crore, counts Goldman Sachs, BT Group and BP, among its clients.

The broader market was trading in the red, with the benchmark Sensex quoting 69 points or 0.39 per cent lower at 17,783.76.

However, the 13-share BSE IT index was quoting 0.63 per cent higher, helped by gains in Wipro, TCS and HCL Technologies.