Bombay stocks closed higher Monday. The BSE Sensex rose 38 points to 10,804. The index earlier hit an intraday high of 10,884. Information technology stocks led the way, with software exporter TCS surging 3.4%, Wipro up 3% and Satyam ahead by 1.8%. Elsewhere, HDFC Bank gained 2.4%, oil producer ONGC rose 2.2% and motorcycle manufacturer Bajaj Auto added 2%. State-run power generator NTPC rose 1.7%. Another IT name, Mphasis BFL, rose 8% after it was named to the International Association of Outsourcing Professionals 2006 Global Outsourcing 100 list. Telecom major Reliance Communications Ventures rose 6% on a major restructuring in which the promoters' stake will rise to 63% from about 40%. Public sector telecom company MTNL was up 1.9%. BSNL and MTNL will invest nearly 200 billion rupees to install 60 million lines over four years. Losers included cement manufacturer Gujarat Ambuja, which shed 1.2%, ITC, off 1.2%, ICICI Bank ( IBN), down 1.1%, Grasim down 1%, and housing finance company HDFC, also lower by 1%.