Mumbai: The Sensex opened on a cautious note and later rallied smartly during morning trading on the Stock Exchange in Mumbai today (Nov 29, 2004 on the back of consistent purchases by Foreign Institutional Investors (FIIs).

The BSE benchmark 30-share index opened marginally lower at 6033.42 as against last Thursday's (Nov 25, 2004) close of 6035.03 and later spurted to a high of 6095.28 before being quoted at 6085.73 at 11.30 hrs (IST), up 50.70 points.

Reliance group shares, however, remained under pressure following the on-going rift between the Ambani brothers.

FIIs were believed to be heavy buyers in several blue chip counters, brokers said.