Infosys rises on sector upgrade, strong buying

DALAL STREET SPIKES

IT bellwether Infosys Technologies continue to rally on back of strong buying support. The stock has been in the thick of action after a rerating of the entire tech sector on expectation of better current quarter results.

Infosys in intra-day trades touched a high of Rs 1,702 before closing at Rs 1,695.20. The counter witnessed impressive volumes of more than 7.54 lakh shares on the BSE.

The stock was also in the limelight following news reports that US-based foreign institutional investor Fidelity Group's holding in Infosys surpassed 5 per cent of its equity.

This included the holding by way of American depository receipts (ADRs). Over the last few months, the stock has witnessed a sharp surge, having risen from Rs 1,177.03 on May 17.

Other tech pivotals Satyam Computer was up 0.96 per cent to Rs 377.40 and Wipro up 2.20 per cent to Rs 596.60 also ended higher on sustained buying.