Wednesday, April 6 2005 11:10 Hrs (IST) - World Time -

Mumbai: The Sensex today (Apr 6, 2005) witnessed a smart rally in volatile trade after the overnight sharp fall, and was quoted up by 17 points at 10:30 hrs (IST) on alternate bouts of buying and selling by investors amid fairly heavy Foreign Institutional Investors (FIIs) inflows on Monday (Apr 4, 2005).

The BSE Benchmark 30-share Index opened moderately up at 6555.92 as against yesterday's (Apr 5, 2005) close of 6550.29 and later fluctuated in a range of 6587.98 and 6551.68 before being quoted at 6567.09 at 10:30 hrs (IST), up by 16.80 points.

Investors seemed to be concerned about soaring oil prices that hit a new record high of $ 58.28 a barrel during trading on April 4, which could adversely affect the economic growth in the long term.

Meanwhile, World oil prices cooled yesterday but still were high at the level of $ 56 a barrel.

Crediting the initial buying support to positive FIIs activity, brokers said the market was well supported by fresh flow of investments ahead of the quarterly results to be announced in the next couple of weeks.

FIIs reported net investments of Rs 244 crore on Monday.

Key counters like Tata Steel, RIL, Tata Motors, Wipro, Zee Telefilms, Maruti Udyog, HPCL, Grasim, Dr Reddy's and BHEL were quoted remarkably up on fresh buying support.

However, ONGC, ICICI Bank, HDFC and a few others showed moderate losses.