The sensex bounced back from its early lows and posted moderate gains at close reflecting a dramatic recovery in trend-setters like Infosys Technologies and Reliance Industries Ltd (RIL) on the Bombay Stock Exchange (BSE) on Tuesday on late buying from speculators. Besides, some leading banks and Foreign Institutional Investors (FIIs) reportedly made purchases in infotech sector in good quantity following announcement of excellent second quarter net earnings by Wipro, Silverline and Himachal Futuristic. While Wipro has reported a 116.29 per cent rise in net profit at Rs 154 crore for the second quarter over the same period last year, the net profit of Silverline has spurted by 145 per cent to Rs 55.5 crore. However, old economy stocks suffered a marked setback due to selling pressure.
Bureau Report