Mumbai: In volatile activity, share prices cut short two-days losing streak and lifted the Sensex up by 23.32 points to close at 5838.45 at the Bombay Stock Exchange (BSE) today (Apr 8, 2004) on sustained buying by foreign funds as well as operators.

Public Sector Undertakings (PSUs) giants and refinery giant ONGC (Oil and Natural gas Corp) were the star performers on hectic buying by institutional investors, aiding the Sensex rise.

Software major and among the top heavyweights, Wipro, was also in limelight following the news that the Board of Directors of the company has called a meeting on April 15/16 to consider issue of bonus shares.

Other shares from index-family like Tata Motors, Tisco, Ranbaxy, Reliance Energy, ICICI Bank, HLL, HPCL, Hero Honda, GACL, BHEL, Bajaj Auto, ACC and GACL also attracted fairly good buying and ended with marked to moderate gains.

However, some of the IT shares attracted profit-selling despite announcement of bonus shares by MphasiS BFL in the ratio of 1:1 and also proposal of considering the issue of bonus shares/stock-split by Infosys Tech on April 13.

Banking stocks were in keen demand at mid-session on news that the Supreme Court today upheld the constitutional validity of the Securtisation Act empowering the financial institutions to attach and sell assets of companies who have defaulted in repaying loans taken by them. However, some of them reacted down on profit-booking by local funds.

The BSE-30 share sensitive index opened firm at 5824.37 as against yesterday's close of 5815.13 and gyrated in a range between 5864.55 and 5783.74 before concluding at 5838.45, a net rise of 0.40 per cent.