Friday, July 1 2005 10:59 Hrs (IST) - World Time -

Mumbai: The Sensex today (July 1, 2005) started weak but soon recovered smartly and crossed the 7200 mark at the opening session on the Bombay Stock Exchange (BSE) as pivotal shares attracted heavy buying at lower level from Foreign Institutional Investors (FIIs) and rallied.

The BSE benchmark 30-share sensitive index opened weak at 7165.45 as against yesterday's (Jun 30, 2005) all-time closing high of 7193.85 and dropped further temporarily to 7154.93.

Thereafter, it recovered smartly on emergence of heavy buying at low level and after crossing the 7200 mark was quoted at 7215.69 at 10:30 hrs (IST), showing a fresh gain of 21.84 points over the previous close.

Yesterday, the market had heated up on heavy FII buying activity and the sensitive index had shot up to end at a new all-time closing high of 7193.85.

FIIs have already made a net purchase in equities worth Rs 4508 crore in the month of June and a whopping Rs 19,251 crore in the current year, a broker said.

During the early trading a large number of index shares such as RIL, REL, Infosys Tech, ITC, ACC, Ranbaxy, SBI, BHEL, Bharti, Cipla, Grasim, Hero Honda, HLL, ICICI Bank, L&T, Tata Motors and Tata Power showed sharp rallies on heavy buying.

However, Satyam Computer, Wipro, Bajaj Auto, Dr Reddy, HDFC, HDFC Bank, Maruti and TCS remained weak on fresh selling.