On Friday, strong buying in some of the leading infotech counters started the rally in the market. After a lacklustre opening, the Sensex gained gradually and the rally spread to other sectors as well also. According to brokers, Friday's rally was broad-based as a number of B1 and B2 group stocks also participated in the rally and closed at the upper circuit level.

The combined trading volume of the two leading exchanges were in excess of Rs 10,000 crore, a rareity during the recent tumultuous market scenario.

Coming on the last day of the current account on the BSE, Friday's rally has generated a lot of enthusiasm among the broking community. According to a BSE broker, usually Friday is the day for squaring off of positions and markets witness a downward trend. ``But today's strong closing has given rise to the expectations of a further rally when the new account begins on Monday.''

The broking community is eagerly awaiting the Sensex to cross the 5000-mark over the next few days. ``It's within striking distance; just 240 points away,'' said a dealer with a domestic broking house. And with FIIs calling a halt to their recent selling spree, it only requires the mutual funds to turn from net sellers to net buyers for the psychological 5000-mark to be attained.

On Friday, the momentum was sharp during the second half and a large number of software stocks like Global Tele, DSQ Soft, Pentamedia, Satyam Comp and NIIT hit the upper circuit of 8 per cent.

For the first time in last few days, the non-software segment also did well during the day. Stocks like SBI, MTNL, ICICI, Sterlite and L&T also attracted huge buying and closed with handsome gains.

The BSE Sensex opened at 4666.06 points, touched a peak of 4768.59 points, and closed at 4764.67 points. The low for the day was 4654.12 points. Similarily, the S&P CNX Nifty gained 34 points, and closed at 1479.55 points. The low for the day was 1441.60 points whereas the high was 1480.85 points.

On the BSE, the number of advances stood at 784, declines at 818 and at the same time, around 188 stocks remained unchanged. The trading volume on both the exchanges was reasonably high, and it stood at Rs 4,262 crore on the BSE. On the NSE, the figure stood at Rs 6,280 crore.

Stocks which gained more than 7.9 per cent were MTNL, Global Tele, Pentamedia, DSQ Soft, Wipro, NIIT, Cipla, VSNL, Tata Power, Aptech, BoB, Fujistu, Andhra Valley, Hotel Leela, Usha Beltron, Fortune Info.

Other gainers for the day were Sterlite, ICICI, SBI, HCL Tech, Bilt, Shyam Tele, Gramophone, Pfizer, Crest Com, Colour Chips, Leading Edge, Datasoft, Siera Optime, KLG Systel, Sonata Soft, Shipping Corp.

At the same time, stocks which dipped more than 7.9 per cent were Ami Computers, Cinerad Com, Shri MM Soft, Ultramarine, Advance Syn, Mangalam Cements.

Other losers for the day were Sibar Soft, Vakrangee, Alok Textile, Atlas Cop, Abacus Comp, Wockhardt, Eupharma, Mirc Electric, Indswift, Navneet Publications.