Techs stocks drive rally

Stocks Report

The BSE sensitive index closed at 4930.53, up by 43.21 points, or 0.88 per cent. This is the Sensex' best close since 12 July 2000. The index touched a high of 4,949.23 and a low of 4,901.59 on a day that saw relatively low volatility.

The NSE S&P CNX Nifty index closed at 1569.45, up by 13.75 points over its previous close.

Technology stocks surged after Wipro announced its results on Friday. They got a boost after the company's improved quarterly results and an encouraging guidance. Wipro was up 3.38 per cent to close at Rs 1420.80 after the company announced its results. More than 5.17 lakh shares were traded.

Satyam Computer was up 7.24 per cent to close at Rs 309.40, HCL Tech up was 5.75 per cent at Rs 206.10 and Infosys Tech was up 2.81 per cent at Rs 4,738.

Heavyweight Hindustan Lever was up 2.62 per cent to finish the day at Rs 195.55 and Reliance Industries was up 0.93 per cent at Rs 489.10.

Publics sector undertakings (PSUs) gained momentum towards close but old economy stocks displayed mixed trends. While cement stocks traded firm, pharma counters lost ground on selling pressure after their recent gains.

Says an analyst from a local brokerage: "The mood in the market was cautious with regards to the happenings at Ayodhya."

L&T was up 4.06 per cent to close at Rs 400.35, Grasim was up 3.98 per cent at Rs 786.60 and ACC was up 2.58 per cent at Rs 216.95. Cipla was down 2.15 per cent at Rs 1,176.45. Dr Reddy's Labs was down 1.55 per cent at Rs 1,212.40 and Ranbaxy Labs was down 0.66 per cent to end at Rs 1,05b2.80.

Bhel hit a new 52-week high of Rs 463.95 before closing at Rs 457.05, up 7.99 per cent over its previous close. Zee Telefilms was up 1.93 per cent to close at Rs 140.10.