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Valley peace helps pivotals to make a moderate recovery; Sensex up 24 points to 3935.82

Pivotals recovered moderately at the Bombay Stock Exchange on buying support from foreign institutional investors and domestic institutional investors today.

The 30-scrip BSE Sensitive Index opened at 3921.14 points, touched day's high of 3943.14 points, reported an intra-day loss of 73 points by touching a low of 3870.16 points, before closing at 3935.82 points, showing a net gain of 23.82 points from the previous close of 3912.00 points.

The broad-based BSE index rose by 13.22 points to 1704.14 points as against the previous close of 1690.92 points.

Dealers said that the successful operation against the intruders in Kashmir and return of normalcy in the border areas has encouraged the players.

The FIIs have made purchases in Reliance, State Bank of India, and MTNL. Institutional buying support was seen in the counters like IVP, BHEL, HDFC and Morgan. According to dealers, about 500,000 shares of IVP changed hands today.

Market leaders like FMCG, infotech and pharma counters witnessed a mixed trend, dealers said.

"We do not think there would be war between the two countries," a leading BSE broker said.

ACC, BPL, Ranbaxy, Global Telesystems, Digital Equipment and NIIT declined while Reliance, ITC, SBI, Pentafour Software, Satyam Computers, Telco, Zandu Pharma, Citicorp Securities, Infosys Technologies and Silverline posted moderate gains.

The BSE-200 and Dollex indices gained by 2.60 and 0.76 points to 388.02 and 150.44 points from the previous close of 385.42 and 149.68 points respectively.

Total turnover on the BOLT system reported during the day was Rs 10.94 billion.

State Bank of India has registered the highest turnover of Rs 1.29 billion, followed by Reliance Rs 1.19 billion, Satyam Computers Rs 907.5 million, MTNL Rs 608.5 million and ITC Rs 582.9 million.

Other actively traded counters were Ranbaxy (Rs 533.4 million), Pentafour Software (Rs 444.5 million), Zee Telefilms (Rs 292.3 million), Raymond Limited (Rs 268.7 million), L&T (Rs 255 million), Infosys Technologies (Rs 240.7 million), Bajaj Auto (Rs 215.3 million), Telco (Rs 208.3 million), Burroughs Welcome (Rs 181.7 million) and Tata Tea (Rs 168.8 million).

UNI

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