Wednesday, Apr 14, 2004
Wednesday, Apr 14, 2004 |
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MUMBAI, APRIL 13. Enthused by reasonable guidance and liberal bonus issue by IT bellwether Infosys Technologies, foreign institutional investors (FIIs) went on an all-round buying spree and lifted the Sensex by a whopping 121 points at close here on Tuesday. In response to the strong price rally, the BSE benchmark 30-share index that initially remained hesitant for a short period, surged up to a strong finish at 5904.52 against the yesterday's close of 5783.79, netting a sharp rise of 120.73 points or 2.09 per cent. The volume that had been guided by a select heavyweighted stocks in the last few sessions, showed substantial rise at the close of the session. Infosys' announcement this morning of a bonus issue and the reasonable guidance for 2004-05 despite sharp appreciation in the rupee set the tone for the market. The sentiment was bolstered by high expectations of bonus announcements by other IT companies. Wipro has already convened the board meeting on April 15 and 16 to recommend dividend and bonus.
PTI
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