Sensex recovers 76 points at closing
The BSE-30 shares index stages a comeback to hit a high of 15,812.27 before settling at 15,776.31 points.business Updated: Jul 26, 2007 17:25 IST
The Bombay Stock Exchange benchmark Sensex recovered 76 points to close in positive zone on Thursday on increased buying by funds in heavy-weight stocks like RIL and Infosys, along with short-covering by speculators.
The BSE-30 shares index, which had lost 95.59 points on Wednesday, staged a comeback to hit a high of 15,812.27 before settling at 15,776.31 points, still up by 76.98 or 0.49 per cent.
Similarly, the wide-based National Stock Exchange's Nifty ended 31.10 points higher at 4,619.80. It touched the day's high of 4,624.30 and a low of 4,570.80.
Market observers said stocks of IT sector were back in demand after the country's second-biggest software developer Infosys Technologies announced acquiring three back office service centres from Royal Philips Electronics NV.
Infosys Technologies' stocks traded heavily and notched up Rs 38.05 at Rs 2,028. Wipro Ltd gained Rs 16.15 at Rs 515.10, TCS Ltd rose Rs 36.85 at Rs 1,185.90 and Satyam Computers finished Rs 8.25 at Rs 495.15.
Reliance Industries' shares continued their upward march through out the session and gathered another Rs 36.60 to close at a record high of Rs 1,940 on reports that the company was planning to set up country's largest fertiliser plant. Other contributers to the rise in the Sensex were Bajaj Auto, Maruti Udyog, Larsen and Toubro and Ranbaxy Lab.