Mumbai: In extremely volatile trading, stocks recouped almost all their overnight losses, lifting the SENSEX by 83 points at close in brisk activity at the Bombay Stock Exchange (BSE) on September 19 on renewed buying by mutual funds and speculators coupled with fresh purchases by Foreign Institutional Investors (FIIs).

Pattern of trading can be judged by the index movement as the BSE Benchmark 30-share Index, after opening strong at 4159.72, nose-dived to a low of 4097.55. Later, it zoomed up to touch an intra-day high at 4224.73 before settling down at 4217.12 as against yesterday's close of 4134.15, a net rise of 82.97 points or 2.01 per cent.

Domestic mutual funds were believed to be heavy buyers in HPCL at the prevailing lower price level, besides select key old economy stocks like Bajaj Auto, RIL, ACC, BSES, HDFC, Hero Honda, Hindalco and L&T.

After a strong bout of hammering yesterday, speculators reportedly made fairly heavy commitments during the session in a bid to square up positions at the last day of the week along with fresh purchases by FIIs which have made net investments of Rs 573 crore during the first three sessions.

The broad-based BSE-100 Index also recovered by 18.99 points to close at 2140.62 from previous close of 2111.63.

A sharp rally on Wall Street last night had a sentimental impact on the market. The Dow Jones Industrial Average and the Nasdaq Composite Index yesterday spurted by 113 points and 26 points respectively.

The market has bounced back after ending above the crucial 4130-level yesterday, said brokers anticipating a fresh round of price rally.

PTI