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Bulls take over the markets

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CIOL Bureau
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BANGALORE: Following the announcement of fresh set of sops for the IT industry by Union finance minister Yashwant Sinha on Wednesday, an invigorated stock market bounced back with strong support from the bulls. The Bombay Stock Exchange Sensitive Index (Sensex) zoomed up by 218.6 points to close at 4,335.29. The National Stock Exchange (NSE) Nifty jumped up by 64.2 points to close at 1,380.2.

Most of the software stocks hit the new upper circuit limit of 12 per cent. These include Satyam, HFCL, Silverline, Global Telecom, DSQ Software, Digital Equipment, HCL Infosystems, SSI, VSNL, and SQL Star.

Market source said that Thursday’s rally would end the temporary bear phase that had pulled the indices down during the last ten days drastically. Meanwhile, Hughes Software announced a two for one split of its stocks.

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