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Our Bureau

Mumbai , June 3

STRONG buying led by institutional investors helped the bourses recover significantly after Thursday's downslide.

Value buying, especially in IT scrips and fresh speculation that the Ambani brothers are close to a resolution to their ownership disputes, buoyed the stock markets.

The Sensex touched an intra-day high of 6,761.13, before closing at 6,748.85, its highest level in over two months. Overall, Friday's trade saw a gain of 93.29 points, an appreciation of 1.4 per cent in the Sensex. The Nifty closed up 1.43 per cent at 2,094.25, gaining 29.6 points.

IT scrips were the big winners of the day. Wipro moved up by Rs. 21.75 to close at Rs 722.50, an appreciation of 3.1 per cent. MphasiS BFL gained 2.97 per cent to close at Rs 268.95. NIIT gained 2.28 per cent to close at Rs 136.75 and HCL Technologies, which announced its joint venture with NEC Japan, moved up marginally to close at Rs 366.10.

The exchanges are trading between 10:30 a.m. and 1:40 p.m. on Saturday to test the readiness and upgrade the NSE backup site at Chennai. Settlement for Saturday's trade would be done on June 7. Live trading would be conducted on both the exchanges.

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