Mumbai: The SENSEX opened marginally lower but later staged a smart recovery and rallied to a high of 3072 at the initial stages of trading on April 1 on the Bombay Stock Exchange (BSE) on fairly good buying support.

The BSE Sensitive Index which opened moderately down at 3037.54 as against the March 31 close of 3048.72, later bounced back rising to a high at 3072.19 before being quoted at 3055.14 at 10:30 hours (IST).

The market seemed to have overcome the overnight strong setback on emergence of buying support from retailers and institutional investors at the lower levels.

However, broking fraternity looked confused as a leading broker said that it is difficult to monitor the sentiment with investors taking every opportunity to book profits after picking up stocks at lower levels.

Heavyweighted counters like RIL, Bajaj Auto, Hero Honda, GACL, Grasim, HLL and a few others were quoted moderately up on some buying support.

However, HPCL and Dr Reddy's Lab showed marked falls.

PTI