Mumbai: Emergence of buying in select old-economy shares in the final hour of trading, helped the SENSEX to recoup its initial losses at the Bombay Stock Exchange (BSE) on September 10 and closed at 4434.26, up by 9.06 points.

Getting negative cue from Wall Street where the Dow Jones Industrial Average and the Nasdaq Composite Index dropped by 68.01 points and 14.24 points last night respectively, operators pressed sales at initial stages to book profit.

Late buying was seen in steel, cement, banking and oil refinery, particularly Public Sector Undertakings (PSUs), sector as some of these shares notched handsome gains, aiding the SENSEX to close in black, dealers said.

Led by SBI, most of the banking shares also attracted renewed buying from speculators as well as retail investors.

However, IT shares suffered a sharp setback on heavy offloading by institutional investors while most of recently favoured pharma stocks bore the brunt of selling on news that the government had slashed retail prices of a host of drug formulations by 30 per cent.

The BSE-30 share sensitive index opened remarkably lower at 4410.12 as against yesterday's close of 4425.20 and moved in a negative territory for major part of the day and touched a low of 4378.65. Later, it recovered smartly and close at 4434.26, a net gain of 0.20 per cent.

The broad-based BSE-100 index also recovered by 13.34 points to end at 2335.65 from previous close of 2322.31.

PTI