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Pivotals recover on buying support; Sensex bounces back to 3649.06; infotech, pharma, FMCG, ITC, L&T, banks post handsome gains

Pivotals recovered sharply towards the end after registering initial losses at the Bombay Stock Exchange. There was heavy buying support from foreign institutional investors and domestic funds on the last day of current settlement. This pushed the Sensex up by 47 points amidst volatile trading today.

The Sensex started at 3622.02 points, then immediately fell sharply below the psychological barrier of 3600 by touching the day's low of 3578.09 points, but bounced back and touched the day's high of 3681.14 points, before closing at 3649.06 points, showing a net gain of 47.10 points from the previous close of 3601.96 points.

The broad-based BSE-100 index also rose by 14.48 points to 1596.11 points as against the previous close of 1596.11 points.

Infotech, pharma and FMCG stocks were the major gainers and witnessed good buying support from FIIs. The Unit Trust of India also made considerable purchases in select index-based scrips, dealers said.

Select scrips like ITC, L&T, SBI and Gwalior were at the forefront of the rally, dealers said.

The banking shares which responded favourably to the RBI's measures continued to be major gainers as SBI and Corporation Bank hit the upward circuit-filters. Bank of Baroda and Bank of India posted handsome gains, they said.

UNI

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