Mumbai: IT bellwether Infosys Technologies injected some life in the depressed market and aided the SENSEX to close in positive territory on the Bombay Stock Exchange (BSE) on April 10 on fairly heavy purchases by Foreign Institutional Investors (FIIs) in software sector.

Enthused by the decision by Infosys Tech to raise FII limit from 49 per cent to 100 per cent, FIIs which had slowed down their activity on Indian bourses for the past several days, made sizeable purchases in select frontline as well as second-rung IT stocks.

The company's announcement that it has met its 30 per cent revenue target for the fiscal ended March 31, 2002 projecting a "challenging" outlook for the next year, also attracted renewed buying from speculators and investors.

Infosys Tech has projected income from the software development services and products for the quarter ending June 30, 2002 to be between Rs 684 crore and Rs 694 crore.

However, the upsurge in SENSEX was mitigated by a sharp setback in a few heavyweighted old economy stocks like BHEL, L&T, RIL, Ranbanxy Lab and some others, which encountered pressure from domestic operators.

The BSE benchmark 30-share index that opened moderately up at 3465.39, later fluctuated in a narrow range between 3494.19 and 3460.03 reflecting a mixed trend and ended at 3479.59 as against close of 3463.33 on April 11, a net gain of 16.26 points. The broad-based BSE-100 Index recovered by 14.01 points to 1739.36 from previous close of 1725.35.

PTI