Mumbai: The SENSEX opened better and later rose past 3500-level on continuous upsurge in key IT stocks at early stages on the Bombay Stock Exchange (BSE) on April 11 on fresh purchases by institutional investors and speculators.

The BSE sensitive index opened moderately up at 3,482.44 as against April 10 close of 3,479.59 and later firmed up to a high of 3,506.06 before being quoted at 3,505.96 at 10.30 hours (IST).

Led by Infosys Technologies, most of software scrips witnessed continuous support as the IT bellwether met the market expectations and posted 16 per cent growth in the net profits for the fourth quarter. Mastek group also has posted a 73 per cent increase in net profit at Rs 10.5 crore for the quarter ended March 31.

Besides Infosys Tech and Satyam computers, old economy shares like Tisco, Telco, SBI, RIL, MTNL, L&T, Grasim, GACL, ACC, Bajaj Auto, BHEL and BSES also registered moderate gains on fresh buying support from speculators.

PTI