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Infotech, pharma shares continue to soar; Sensex up 29 points to 4,765

The Bombay Stock Exchange opened on a buoyant note on Friday morning. Heavy buying in infotech and pharmaceutical stocks continued.

The BSE Sensex opened higher and at 1330 hours IST, was hovering in the 4800 level. It touched 4807 before receding. Compared with Thursday's close, it is up 71 points or 1.50 per cent. However, the Sensex closed at 4765 level, up 29 points, or 0.61 per cent.

Shares of NIIT were up on news that Shiv Nadar has made way for Rajendra Pawar to the chairmanship of the company. Dabur and Nicholas Piramal were reported to be keen on carrying out trials of anti-cancer drugs. This led to speculative activity in pharma shares.

At the National Stock Exchange, the S&P CNX Nifty was up 19 points or 1.35 per cent at 1420.05. The Nifty ended at 1413.60, up 12.6 points or 0.89 per cent. Yesterday, it closed at 1401.

At the inter-bank foreign exchange market, the rupee was being traded at Thursday's closing level of 43.57 to a US dollar, which is also an all-time closing low. Latest reports indicated the 43.56 level. Forex dealers said the steady trend will continue until the new government takes office.

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