The BSE-100 index ended 35.46 points higher at 1621.36 from its previous close of 1585.90. Marketmen, however, said today's rally was mostly on account of technical factors like factoring-in of high badla rates on the 18 specified scrips that are entering into compulsory demat from today as well as short covering by bears on the last day of the settlement at the National Stock Exchange.

Provisional data from the Bombay exchange showed 674 advancing issues, 714 declining issues and 138 unchanged issues. The total traded volume was 5.1 crore shares.

Satyam Computers led the rally in software stocks and ended atthe upper price circuit at both the stock exchanges. The buying frenzy in the stock was spurred by the company announcing that it will meet on April 13 to decide on a bonus issue as well as dividend payout. Satyam ended eight per cent higher at Rs 1,502.

The other major software speculative, Pentafour Software also ended higher at Rs 1126, recovering from the severe hammering the stock received from bears last week. Infosys closed at the upper circuit on the National Stock Exchange primarily led by short covering by bears who wanted to get out of the stock before it goes into the no-delivery mode from tomorrow. Other IT scrips like Rolta and HCL also closed higher. On the other hand, Silverline, Digital Equipment and NIIT closed lower. NIIT witnessed large volumes amounting to Rs 13.29 crore today as the scrip comes out of no-delivery at the National Stock Exchange from tomorrow. ACC also closed at the upper circuit on account of short covering on NSE.

The buoyancy in the international stock markets afterthe Dow breached 10000 mark did not have much of an impact on the domestic sentiment as players were more concerned about the domestic technical factors. News about the attempted rapproachment between Congress and AIADMK also cast a shadow on the upswing. ``Today's rally was essentially a correction of last week's steep fall in prices as well as the no-delivery factors in major stocks from next week. Discounting for these technical factors, the market was range bound. It was not as strong as it may look from the Sensex figures,'' said a BSE broker.

The price variation between NSE and BSE was quite wide on account of end account and no delivery reasons. The notified demat scrips are already on no-delivery at the BSE while they get into no-delivery in NSE from tomorrow. At the NSE shares were relatively subdued, but they picked up towards close on short-covering.