Tuesday, August 30 2005 11:42 Hrs (IST) - World Time -

Mumbai: The Bombay Stock Exchange's (BSE) benchmark 30-share Index (sensex) today (August 30, 2005) rallied smartly during morning trading on revival buying support amid reports that the Reserve Bank of India (RBI) has advocated a hike in fuel prices in line with high global crude price.

The Sensex started off on a strong footing at 7681.67 as against yesterday's (August 29, 2005) close of 7634.43 and later rallied sharply to a high of 7720.18 before being quoted at 7713.79 at 10.30 a.m., up by 79.36 points.

Crediting the positive turnaround to heavy flow of funds, brokers said operators as well as institutional investors are pumping funds in the equities at this level.

Foreign Institutional Investors (FIIs), which reported net investments of Rs 117 crore last Friday (August 26, 2005), too were believed to have increased their activity on bourses.

The market discounted the high international oil prices, which were quoted little over $ 67 a barrel in Asian trading this morning after hitting an all-time high of $70.80 yesterday.

Meanwhile, the apex bank reportedly has advocated a hike in petrol and diesel prices to lessen the strain on the economy and the Government.

Infosys Tech, Satyam Computers, Wipro, TCS Ltd, Reliance Industries Limited (RIL), Tata Motors, ITC, ICICI Bank, State Bank of India (SBI), Maruti Udyog, HDFC, Hero Honda, Dr Reddy's Lab, BHEL and Cipla were quoted remarkably up on fairly heavy buying support.