Mumbai: Responding to announcement of strong quarterly earnings by IT bellwether Infosys Technologies, the Sensex opened firm and later moved irregularly during morning trading at the Bombay Stock Exchange (BSE) today (Oct 12, 2004) on alternate bouts of buying and selling.

The BSE Benchmark 30-share Index opened firm at 5750.36 as against yesterday's close of 5717.54 and later fluctuated in a range of 5762.60 and 5719.42 before being quoted at 5719.42 at 10.30 am, fractionally higher over last close.

Infosys Technologies this morning announced a net profit of Rs 447.37 crore for the second quarter ended September 30, 2004, up by 48.64 per cent over Rs 300.98 crore in the corresponding period last year.

Attributing fresh buying spree to better-than-expected quarterly working by the software major, brokers said high global crude oil prices was considered to be the prime cause of worries among investors.

Software counters including Infosys Tech, Satyam Computer and Wipro were quoted substantially higher.

HDFC, BHEL and Ranbaxy also recorded gains on fresh buying support.

However, Tata Steel, Tata Power, Tata Motors, RIL, ICICI Bank, HLL, Hero Honda, HDFC Bank, Grasim, Dr Reddy's Lab and Bharti Tele-Venture showed marked falls on selling pressure.