Bombay stocks shook off Tuesday's torpid finish to set a closing high Wednesday, led by another strong showing in information technology.

The BSE Sensex rose 97 points to close at 11,183. A day earlier the index had opened at a high before giving back almost all its gains.

On Wednesday, gainers were led by cement maker Gujarat Ambuja , up 3.8%. Aluminum smelter Hindalco added 3.5% and Hindustan Construction rose 3%.

In IT, computer services outfit Satyam rose 3.6% and Infosys ( INFY) added 2.7%, while Wipro ( WIT) rose 2.6%.

After rising last week, power and auto stocks dropped Wednesday. The top loser on the BSE Sensex was Tata Power, down 1.1%. NTPC, the thermal power company, and Bajaj Auto each slid 0.5%.

Shares of NDTV, the media company, advanced 6.8% on an alliance with Genpact, formerly GE Capital International Services, to offer media outsourcing services.

Pharma giant Ranbaxy Laboratories rose 3.4% on news that the company acquired Terapia, the leading Romanian drug maker, for $324 million.

Gujarat Ambuja rise came as Swiss cement maker Holcim's plan to take a 20% stake was rescheduled on technical issues.
This story was created through a joint venture between TheStreet.com and IRIS.