The day started on a weak note as stocks from the IT sector opened at lower levels from Wednesday closing. But value buying in most of the front counter led by Satyam Computers, Infosys, Wipro and NIIT lifted the sentiment in later part of the day.

The Sensex opened lower in the morning and even fell below the 3500 mark. But active buying by FIIs in index heavyweights both from the Old and New Economy pulled back the stock prices with Sensex closing at 3702.83, a rise of 109.2 points. On the NSE, S&P CNX Nifty closed 30.15 points higher at 1116.15.

Among the index heavyweight the major gainers of the day included NIIT, hitting the maximum upper circuit level of 16 per cnt to close at Rs 1,656.80. Satyam Computers was up by 11.81 per cent at Rs 343.35. Infosys too closed higher by seven per cent at Rs 6,677.

Dealers on Thursday had mixed view on the surge in the stock prices. Some said the rise was the technical correction after the continuous fall, while others felt that most of the technology stocks at these levels had again become attractive and FIIs made select purchases in them. Wipro, which got listed on NYSE on Thursday night, was another active stock and closed 16 per cent higher at Rs 2,222.65. Other stocks to gain sharply included HFCL, SSI, Hughes Software. In the index stock Zee also gained by four per cent.

Among the Old Economy stocks, Tisco, and ACC showed a smart recovery and gained handsomely. Reliance, HLL, and Rel Petro also made smart recovery. L&T and MTNL were however showed a negative close.