23 April,2009 05:23 PM IST | | PTI
Stocks led by the information technology and metal sectors pushed up the Bombay Stock Exchange benchmark Sensex by over 317 points on expectations that earnings growth will recover as the market has nearly bottomed out.
The Sensex, which had lost nearly two per cent in the last three trading sessions, bounced back to close 317.45 points up at 11,134.99, after touching the day's high of 11,203.28.
u00a0The information technology index, led by three heavyweights, gained the most, 5.22 per cent, to reach 2,549.71.
Wipro, the country's third-largest software developer, was up 13.62 per cent to Rs 320 after Morgan Stanley and ICICI Securities raised their target price for the stock.
ALSO READ
Sensex drops 241 pts, Nifty falls for 7th day on selling in IT, oil shares
Sensex down 241 points; Nifty falls for 7th day as FPI selling spree, IT stocks dampen sentiment
Markets open lower as FPI outflows and IT stocks weigh on Sensex and Nifty
Sensex, Nifty decline in early trade as FPIs selling spree, IT stocks dampen market sentiment
Sensex drops 110 pts, Nifty slides for 6th day on FII selling
Tata Consultancy Services, the largest software developer, added 4.60 per cent to reach Rs 567.95 and Infosys Technologies, the second largest, rose 5.11 per cent at Rs 1,449.85.
The metal sector index was the second-best performer, rising 5.20 per cent to 7,086.02, as Tata Steel rose 8 per cent, JSW Steel 9.04 per cent and SAIL 6.79 per cent.
