Infosys leads rally in Sensex

MUMBAI OCT. 10. Encouraging second quarter results by the IT bellwether, Infosys Technologies, attracted renewed buying in the software segment on the Stock Exchange, Mumbai, today and the Sensex shot up further by 70.22 points to close at 39-month high at 4768.90.

Today's trend-setter, Infosys rallied by Rs. 174.80 or 3.94 per cent to settle at Rs. 4608.65 on hectic buying after the company showed a steep 32.9 per cent rise in its net earnings during the second quarter at Rs. 300.16 crores and it has also declared an interim dividend of Rs. 14.50 per share or 290 per cent.

As a result, other IT scrips such as Satyam Computer, Wipro, Digital Global, HCL Technologies, Geometric Software, Hexaware Technologies, iGate Global, Mastek and few others finished strong on heavy buying by operators.

Old economy index-based stocks such as RIL, Telco, L&T, ITC, Tisco, Hindalco, BSES and HDFC also attracted heavy buying by institutional investors and ended with sharp gains, aiding the upsurge in index, dealers said.

Mirroring the market trend, the BSE-index opened strong at 4735.09 and after rallying to the intra-day high at 4780.77, closed at 4768.90, showing an impressive rise of 1.49 per cent over previous close of 4698.68.

The broad-based BSE-100 index improved further by 10.06 points to 2452.41.

On the contrary, select public sector enterprises (PSEs) and banking scrips suffered a moderate setback on profit booking as operators turned their attention to IT stocks.

In the specified group, 91 including 18 index-based scrips registered gains while 102 others ended with losses.

The BSE-200 and the Dollex-200 were quoted at 607.85 and 223.01 against 605.51 and 222.39 respectively.

The BSE-500 improved by 5.93 points to 1856.88 and the Dollex-30 to 862.77 from 851.01.

The volume of business rose sharply to Rs. 2567.52 crores from Rs. 2223.33 crores. — PTI