Sensex rises on FII buying
Mumbai—Initially, following Prime Minister AB Vajpayee’s offer of resignation equities fell, but rebounded in the later part of the day on account of FII buying of index heavyweight stocks.

The BSE 30-share index opened higher at 3,289 against previous day’s close of 3,286. It touched an intra-day low of 3,256 and recovered sharply by 73 points to settle at 3,329 a gain of 43 points or 1.3 percent.

The NSE Nifty gained 11 points to close at 1,073.

The rally started on the back of RIL results that were better than expected. The RIL stock price was up 2.2 percent. Other stocks that saw a rise was Telco, which saw a spurt of 7.7 percent to Rs 71. This was because of rumours doing rounds that the car maker is in the middle of hiving off the car project.

Tisco another Tata group company also saw a spurt and was up 4.4 percent to Rs 94.

Among entertainment stocks Zee Telefilms saw a smart recovery with the stock risibg to Rs 87 on the bourses.

IT stock Infosys gained ground on institutional buying and was quoting at Rs 3,761 up 2.9 percent.

The Aptech stock, however, was down due to selling pressure on news of a 94 percent fall in net profit. The Aptech stock fell 9.5 percent to Rs 50.5, NIIT was down 7 percent to Rs 167 and SSI was down 6 percent to Rs 165.
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