Money on the markets

A maturing market amid the mayhem

Sensex gains on bargain hunting


The BSE Sensex closed 1.56 percent higher on Friday as investors saw an opportunity in the battered market that had plunged to its lowest in three years in the previous session.

The benchmark closed at 8352.82, supported by index heavyweights Reliance Industries (up 1.8percent), NTPC (up 2.2 percent) and Bharti Airtel (up 2.1 percent).

The BSE IT Index remained the frontrunner, closing 3.05 percent higher on the recent slide in the rupee.
Shares in Satyam Computer gained 19.94 percent after the fraud-hit outsourcer won regulatory approval to sell a majority stake in itself. Wipro and Infosys were up around 3 percent each. MARKETS-SOUTHASIA-STOCKS/

Selling pressure was seen in Maruti Suzuki, HLL and Ranbaxy, which were down in the range of 2-3 percent.