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FIs buy pharma, trigger moderate rally; Sensex recovers 42 points, up to 4660

Institutional buying in pharma shares led the rally at the Bombay Stock Exchange, allowing the Sensex to gain 42 points today.

Mirroring the uptrend, the BSE-30 Sensitive Index or the Sensex opened firm at 4566.59, touched an intra-day high of 4689.52 and a low of 4545.63. The Sensex ended at 4659.59 points, registering a rise of 41.77 points or 0.90 per cent over the previous close of 4617.82.

Marketmen said that foreign institutional investors and domestic institutions bought in pharma counters of Pfizer, Glaxo and Ranbaxy. FII-buying was also witnessed in Telco and Hindalco.

However, infotech scrips remained on the dowside. Infosys Technologies fell by Rs 277 to end at Rs 4,800 as against the previous close of Rs 5,077. Brokers said that the fall resulted due to slump in the scrip's ADR price on the NASDAQ Stock Exchange of the US.

''Domestic institutions were buying in FMCG counters, notably Hindustan Lever,'' said a leading broker.

UNI

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