Friday, July 8 2005 12:32 Hrs (IST) - World Time -

Mumbai: The sensex today once again opened on a strong note and later rallied past 7200-level, gaining by 83 points at 10.30 am (July 8, 2005) on the Stock Exchange, Mumbai (BSE) as investors regained confidence after the multiple London blasts.

The turnaround was largely credited to fresh buying spree from institutional investors prompted by a positive trend on the Wall Street last night.

The BSE Benchmark 30-share Index opened sharply up at 7171.52 as against yesterday's close of 7145.13 and later rose past 7200-mark to a high of 7240.39 before being quoted at 7228.19 at 10.30 am, up by 83.06 points.

Foreign Institutional Investors (FIIs) were believed to be engaged in fresh purchases in select heavy weighted stocks at the prevailing price levels, brokers said.

The Dow Jones Industrial Average ended up by 11.28 points and the Nasdaq Composite Index by 2.92 points yesterday.

Global oil prices also retreated from record highs after a stormy session that started with panic selling sparked by the London bomb blasts and ended with US traders fretting over hurricane weather.

It finished at 60.73 dollars from a new record high of 62.10 dollars. Key counters like RIL, Tata Steel, Tata Motors, Wipro, TCS Ltd, SBI, Satyam Computers, ONGC, REL, Maruti Udyog, Infosys Tech, HLL, Hero Honda, HDFC, HDFC Bank, Cipla, ACC and others were quoted remarkably up on fresh buying support