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Pivotals' rally on FIs' support, Sensex 3331.98

Continuing the upward trend of the last four days, pivotals on the Bombay Stock Exchange moved higher on the Sensex chart which gained another 85 points, thanks to buying support from foreign and local investors.

The foreign institutional investors and local bull operators contributed in a major way to the Sensex upswing. The shares of ITC were bought in bulk by the FIIs while the local buyers stuck to buying ITC as well as MTNL, Bank of Baroda and other software companies.

Among the local investors, UTI, LIC and State Bank of India ruled the market with their continuous support receiving a parallel response from the FIIs who also invested their funds in the shares of Corporation Bank. Market sentiments seemed to float on the positive trend of the last few days; investors did not seem to hesitate to invest their funds.

Reflecting the bullish phase, the BSE Sensitive Index opened at 3277.93 points, touched the day's high of 3347.40, fell to touch the day's low of 3277.93 points before closing at 3331.98 points, showing a net gain of 86.10 points over the previous close of 3245.88 points.

The broad-based BSE-100 index drifted lower by 30.55 points to 1459 against the previous close of 1428.45 points. The BSE-200 and Dollex indices also closed higher by 6.16 and 2.46 points to 331.72 and 129.67 points against the previous close of 325.56 and 127.21 points respectively.

Among the gainers, ACC rose by 63 to 1323, Hindustan Lever gained by Rs 52.25 to 1610, ITC gained by Rs 20 to Rs 693, L&T firmed up by Rs 14 to Rs 235, Tisco increased by Rs 20.70 to Rs 145 and Telco moved up by Rs 12 to Rs 172.

Total turnover on the screen-based trading system was Rs 9.92 billion. ITC topped the list by registering highest turnover of Rs 2.34 billion, followed by Satyam Computers (Rs 1.24 billion). Other actively traded counters were Infosys Tech (Rs 585 million), Reliance (Rs 534.1 million), Zee Telefilms (Rs 454.2 million), State Bank of India (Rs 425.5 million), Hindustan Lever (Rs 390.1 million), Pentafour Software (Rs 363.3 million), Tata Tea (Rs 337.5 million), Castrol Industries (Rs 277.7 million), L&T (Rs 271.7 million), BHEL (Rs 214.2 million), MTNL (Rs 163 million), Telco (Rs 163 million) and ACC (Rs 138.2 million).

UNI