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Infosys, SBI help Sensex recover

MUMBAI DEC. 11. A smart rally in Infosys Technologies and SBI aided the Sensex to end in the positive territory in an extremely volatile activity on the Bombay Stock Exchange today on alternate bouts of buying and selling by foreign institutional investors and speculators.

The BSE benchmark 30-share index opened firm at 3298.94 and later fluctuated erratically between 3324.23 and 3287.28 before ending at 3303.27 against yesterday's close of 3289.68, netting a rise of 13.59 points. The broad-based BSE-100 index also improved further by 4.63 points to 1621.50 from 1616.87.

The volume of business rose sharply to Rs. 1,993.61 crores from Rs. 1,479.98 crores.

Media stocks shine

Media scrips in broadcasting business gained fresh ground on the bourses on buying by institutional and local investors triggered mainly by the passage of the Cable Television Network Bill in Parliament.

Key media company stocks such as Zee Telefilms and TV Eighteen traded heavily and scored fresh gains.

Stock brokers attributed fresh buying interest in media stocks to clearance by Parliament of the Conditional Access System (CAS) Bill, providing cable subscribers the facility to pay for only those channels they have selected.

PTI

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