Mumbai: Stocks rebounded from their day's lows and majority of key scrips even scored impressive gains, aiding the Sensex break three-session string of losses in volatile activity on the Bombay Stock Exchange (BSE) today (Nov 10) on late purchases by foreign funds as well as operators.

The BSE benchmark 30-share index opened moderately lower at 4,962.22 and later dipped to the day's low at 4,909.66 before bouncing back to end at 4,998.57 as against last Friday's (Nov 7) close of 4,971.57, a net gain of 27.00 points or 0.54 per cent.

Attributing early sell-off by investors on anticipation that Foreign Institutional Investors (FIIs) might gradually slow down their activity in the week, market sources said volatility has become the order of the day as a result of continuous profit booking by retail investors as well as selling by domestic funds.

The market, however, made a strong turnaround overcoming early strong resistance on the back of fairly heavy purchases by FIIs, which have pumped in Rs 1,506 crore in the first four sessions of last week.

FIIs were believed to have made heavy purchases in key stocks, focussing their attention to refinery shares.

The market seemed to be awaiting participation of retail investors, which only can prompt a fresh stocks rally.

Effective from November 10, the BSE has changed the Sensex's composition, after converting its methodology for calculating the index value from total market capitalisation to free float market capitalisation. It replaced five companies in the Sensex.

Castrol, Colgate, Glaxo, HCL Tech and Nestle have been removed and Bharti Tele, HDFC Bank, ONGC, Tata Power and Wipro have been added to the Sensex.

Heavyweighted counters like Grasim Ind, HLL, ONGC, RIL, Ranbaxy Lab, Satyam Computers, Tata Motors, Tata Power, Tisco and Zee Telefilms recovered their losses and ended with marked gains on buying support.

PTI