Mumbai: Shares attracted heavy demand from operators and institutions and recovered smartly, whipping out July 22's losses on the Bombay Stock Exchange, (BSE) on July 23. Reflecting the trend, the SENSEX rallied by 23.76 points to close at 3577.89.

Prices resumed on a promising note, but failed to keep up the trend for long as fresh selling in the tune of squaring up, pulled down select index based shares towards the fag-end, however the overall trend was cheerful.

The notable gains were seen in shares belonging to media and banking sector, while Tisco and Maruti Udyog also rallied helped by excellent working results of these companies.

Tisco's net shot up by 315.9 per cent to Rs 267.07 crore during the first quarter ended June 30,2003 as against Rs 64.21 crore during the corresponding period in 2002.

Maruti Udyog, which floated its shares in the market recently, showed a 10-fold rise in its Q1 net that rallied to Rs 123.20 crores from 2002's first quarter net of Rs 11.5 crores.

The BSE 30-share sensitive index resumed sharply firm at 3571.75 and after shooting up to a high of 3596.59, reacted down to end at 3577.89 however showing a smart gain of 23.76 over July 22's close of 3554.13.

Better trend in the Dow Jones Industrial Average and the NASDAQ Composite Industrial Average, which firmed up by 61.76 points and 24.61 points July 22 night respectively also generated good buying, brokers said.

PTI