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Foregn funds, short-covering by operators spark software-led rally; Nifty up 15 points to 1390

Led by infotech shares, equities staged a smart rally at the National Stock Exchange on good buying support from foreign funds coupled with short covering by local operators today.

Reflecting the firm trend, the S&P CNX Nifty index opened at 1375.45 points, touched the day's high of 1392.05 points, a low of 1372.50 points before closing at 1390.20 points, showing a net gain of 15.25 points from the previous close of 1374.95 points.

The S&P CNX Nifty Junior shot up by 43.25 points to 2479.30 points from the previous close of 2436.05 points.

About 585 securities rose considerably from their previous levels, 520 reported a decline, 62 remain unchanged while 81 securities hit their price bands today.

The exchange witnessed a total turnover of Rs 21.79 billion, came from a trading of 87.21 million shares in 334,416 trades. Debentures traded were valued at Rs 7.19 million.

Ranbaxy Labs stood first in the list of turnover by registering the highest turnover of Rs 2.94 billion, followed by Satyam Computers Rs 2.47 billion, Digital Equipment Rs 2.07 billion, Pentafour Software Rs 1.03 billion, Reliance Rs 784.7 million and Telco Rs 772.5 million.

UNI

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