Bombay Stocks Close Higher

Grasim rises 4.3%.
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Bombay stocks closed higher Thursday.

The BSE Sensex recovered to close at 10,573, up 0.6%, after hovering in negative territory for most of the trading session.

Stocks had taken a beating during the previous session because of massive selling by foreign institutional investors. However, renewed buying interest in select sectors helped the Sensex rebound.

Major gainers on the BSE Sensex were leading cement manufacturers

Gujarat Ambuja

, up 6.3% at Rs 98.05,

ACC

, up 5% at Rs 749.40, and

Grasim

, up 4.3% at Rs 1885.95.

Cement stocks have been in the spotlight since cement makers hiked prices last month following a court ruling restricting the loading of cement on trucks.

Birla

was among the gainers at the bourses, rising 9.3%.

Select technology stocks made modest gains at the BSE. Hyderabad-based

Satyam

(SAY)

and IT company

Infosys

(INFY) - Get Report

both gained more than 1% each.

Among the losers during the day were India's leading drug manufacturer

Ranbaxy

, down 2.6% at Rs 420.25, and motorcycle maker

Hero Honda

, which lost 2.4% to Rs 880.05. Telecom major

Bharti Tele

fell 2.4%, followed by India's top small-car maker

Maruti

and housing-finance company

HDFC

.

This story was created through a joint venture between TheStreet.com and IRIS.