Blue-Chip stocks and selected technology shares rose yesterday as bargain hunters and pessimists about corporate earnings battled back and forth through the trading day. The Dow Jones industrial average rose or 0.64 per cent to close at 10,241.02, while the Nasdaq Composite Index gained 9.25 points to 1,972.04.

But broader diversified market measures fell. The Standard & Poor's 500 index gave up 1.34 points at 1,180.18. Further illustrating the market's negative tone, declining issues outnumber gainers by 11 to eight on the Nasdaq and by 17 to 13 on the New York Stock Exchange.

Gains in Microsoft shares helped both the Dow and Nasdaq. The stock rose $2.02, to $66.50 after it said it would change how it licenses its Windows operating system to computer makers, allowing them to remove its Web browser and make other changes.