Friday, June 3 2005 18:33 Hrs (IST) - World Time -

Mumbai: Led by IT shares, the Sensex today (Jun 3, 2005) bounced back with vengeance and shot up by 93.29 points on frantic all-round buying and crossed the 6700 mark, before closing at 6748.85 on the stock exchange, Mumbai (BSE).

The BSE benchmark 30-share sensitive index opened marginally better at 6664.98, as against yesterday's (Jun 2, 2005) close of 6655.56, but soon met with selling and declined to 6647.69.

Later, on revival of heavy buying at low level, the index shot up to 6761.13 and closed at 6748.85, showing a sharp recovery of 1.40 per cent over the last close.

Reflecting the firm trend in IT sector, the BSE IT index firmed up by 64.11 points to close at 2752.67 as against yesterday's level of 2688.56.

Among IT shares, Infosys Tech, Satyam Computer, Wipro, TCS, I Flex and HCL tech made handsome gains on heavy purchases.

Yesterday prices, mainly of metals scrips had fallen sharply due to heavy selling, however the overall picture changed today with institutional buyers along with operators making heavy low-level buying particularly in IT segment which cheered up the market sentiment.

Some of the positive factors were fall in inflation and softening in world crude oil prices, brokers said.

Inflation declined for the fourth consecutive week ended May 21 to 5.38 per cent, while the international crude oil prices fell to $53.63 per barrel after the US Government released data showing growth in domestic supply of gasoline and other fuels, brokers said.

Firm index-based shares, which helped the Sensex to rally, were Infosys Tech, RIL, ITC, L&T, Ranbaxy, REL, ONGC, Wipro, Bajaj Auto, Hindalco, Satyam, Zee Tele and SBI. The broad-based BSE-100 Index rallied by 44.17 points to end at 3623.84 from the last close of 3579.67.