New Delhi, April 10: The benchmark index surged nearly 2.2 per cent as stocks under the leadership of information technology and telecom sectors made a strong rally to close with widespread gains on the stock market on Monday on a flurry of purchases by foreign institutional investors (FIIs) and domestic bull operators.The Delhi stock exchange index ended 22.13 points higher at 1054.30 points after crossing 1079 points on the back of significant rise in stocks value.Stock brokers said fixing of lower badla charges of nearly 12 to 14 per cent per annum and sharp drop in the net outstanding positions last weekened influenced the sentiments.
They said easing of margin rules by the Securities and Exchange Board of India (Sebi) and withdrawal of income tax notices slapped on some Mauritius-based FIIs by the government, and new revamped index on the Bombay stock exchange were other positive factors behind return of buoyancy on the markets.
Reports that FIIs had pumped Rs 1100 crore into the Indian bourses in the past few sessions too and entry of several stocks in the "no-delivery" period too fuelled buying spree, they added.
"Most of IT and telecom company stocks were locked in the upper end of circuit-filter on all-round buying," said a DSE broker, adding "even sellers also turned buyers on hopes of further rise in stock prices".
Infosys technologies in the IT segment lead the rally mostly in line with a steep rise of 21 dollars in its ADRs (American depository receipts) last Friday on the technology-heavy Nasdaq stock exchange and share prices flared up by a whopping Rs 722.10, or 8 per cent to hit upper end of circuit-filter at Rs 9748.90.
Other stocks such as Wipro at Rs 5694.35 (Rs 5272.55) Satyam Computer at Rs 3904.30 (Rs 3615.10), Silverline Technologies at Rs 732.80 (Rs 678.55), Rolta India at Rs 492.35 (Rs 455.90), Aptech Ltd at Rs 1626.95 (Rs 1506.45), HCL Infosystesm at Rs 523.25 (Rs 484.70), SSI Ltd at Rs 4180.35 (Rs 3870.70) Pentamedia Graphics at Rs 1039.25 (Rs 962.30) and SQL Star International at Rs 127.65 (Rs 118.20) remained locked in the upper end of price band on large-scale purchases.
Global Telesystems at Rs 2018.45 (Rs 1868.95) while Himachal Futuristic at Rs 1473.75 (Rs 1364.60) also hit upper side circuit filter on aggressive buying.
Zee Telefilms, an entertainment and media major stocks too regained buoyancy on the back of frenzied purchases by FIIs and domestic players and surged Rs 73.15, or 8 per cent to Rs 987.90.
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