Mumbai: After having hit hard on February 28 from disappointing Budget, stocks under the lead of HLL and ITC made a dramatic comeback with a smart rally in the SENSEX at early stages on the Bombay Stock Exchange (BSE) on March 1 on hectic buying support from investors.

The BSE Sensitive Index opened subdued at 3,551.56 as against a close of 3,562.31 on February 28, made a strong turnaround rallying sharply to a high of 3,633.73 before being quoted at 3,594.35 at 10:45 hours (IST).

The market was extremely volatile in spite of the “Maharashtra Bandh” called by Vishwa Hindu Parishad (VHP), which has partially dislocated transport services in the metropolis.

Attributing the volatility to heavy bouts of buying and selling by speculators that confined their transactions to profit bookings at higher levels, market sources said that foreign institutional investors (FIIs) seemed to be making fresh purchases in select key counters.

Higher price levels attracted widespread selling in the form of profit booking by investors, they added.

PTI