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Sensex surges 123.05 points, closes at 3,488.77

Hectic buying in key pivotals by the foreign institutional investors and domestic financial institutions led the Sensex to bounce back with a vengeance at the Bombay Stock Exchange today.

The BSE-30 Sensitive Index surged by 123.05 points to end at 3488.77 points as compared to the previous close of 3365.72 points. The Sensex climbed up to the day's high of 3489.20 points and down to a low of 3356.61 points.

According to marketmen, the foreign funds bought shares of ITC, Tata Tea, Castrol, Bajaj Auto, HLL, BHEL and Colgate. Encouraged by the sops for the information technology sector announced yesterday by the Finance Minister Yashwant Sinha, Unit Trust of India, Life Insurance Corporation of India and General Insurance Company bought shares of software companies like Pentafour Software, BFL and Satyam Computers, brokers said.

The BSE-100 index closed at 1527.05 points as against the last close of 1477.30 points, showing a net gain of 1471.30 points. The BSE-200 index ended higher at 346.96 points as compared to the previous close of 336.70 points, gaining 10.26 points. The Dollex index closed at 135.86 points as against the last close of 131.86 points, exhibiting a rise of 4.27 points. An uptrend in other Asian markets aided bullish sentiments, brokers opined.

UNI