Mumbai: Notwithstanding profit-taking wiping out a major part of the early gains, the Sensex notched up yet another 49.15 points to close at 4938.15 at the Bombay Stock Exchange (BSE) today (June 7, 2004) on sustained buying by foreign funds amidst firm global advices.

The BSE-30 share Sensitive Index opened on a strong footing at 4927.50 as against last Friday's close of 4889.00 and improved further to a high of 4991.48, only to retreat to a low of 4905.53 on profit-selling. Later, it recovered marginally to close at 4938.15, still showing a net gain of 1.01 per cent.

The broad-based BSE-100 Index also rose by 27.36 points to conclude at 2621.92 from previous close of 2594.56.

Sharp to moderate rise in shares from index family like RIL, Grasim, ITC, HPCL, ONGC, Tata Motors, Satyam Computer, HDFC, Bharti Tele, Cipla, HDFC Bank, MTNL and REL mainly contributed to the Sensex rise, a dealer said.

Wary operators and retail investors were seen booking profits at every higher levels as they seemed to be worried over the consistency of the ongoing rally following mixed signals emanating from the Centre over the advance of the economic reforms process, analysts said.

The initial sharp rally was attributed to consistent net investments by Foreign Institutional Investors (FIIs), firm global advices and decline in the international oil prices.

On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index finished up by 46.91 points and 18.36 points last weekend.