The stock market benchmark BSE Sensex firmed up its position above the 16,000-point level, gaining a moderate 25 on a day when the domestic currency appreciated to record levels against dollar, leaving the IT scrips in red.

Most technology stocks reported drop in share price after the Rupee breached the 40-barrier, closing at 39.88/89 against the dollar. IT sector index suffered a loss of 100.46 points from previous close and was at 4390.75 at the end of Thursday’s trading session. Infosys dropped to an intra-day low of 1,795 before settling at 1799.75, a decline of 2.89 per cent over its previous close. Wipro was down 3.27 per cent from Wednesday’s closing price and settled at 433.50, while TCS ended at 1000.80, down over 2 per cent from its last close.