Mumbai: Aided by a mild rally in IT stocks, the SENSEX opened on a promising note and later rose past 3200-level in lacklustre activity at early stages on the Bombay Stock Exchange (BSE) on June 27 on selective buying by institutional investors.

The BSE sensitive index opened substantially up at 3199.03 as against previous close of 3180.99 and later moved up to a high of 3210.18 before being quoted at 3199.85 at 10:30 hours (IST).

Heavyweighted IT counters like Infosys Technologes and Satyam Computers which were under pressure in the past few sessions, attracted fairly good buying from Foreign Institutional Investors (FIIs) backed by a dramatic late recovery on Wall Street on June 26 night.

The Dow Jones industrial average and the NASDAQ composite index that had dropped sharply during the trading on June 26 on news of another accounting scandal at WorldCom, later recouped their losses as investors discounted the strong negative factor, market sources said.

Shares of Reliance Industries Ltd and REL Petroleum that suffered a setback in the last couple of sessions, ruled steady even as the condition of Dhirubhai Ambani continued to be critical on the third day.

PTI