MUMBAI, July 2: Pivotals moved widely on the Bombay Stock Exchange (BSE) on alterantive bouts of heavy buying and selling to finish with further widespread gains. After a steady spell, share prices shot up during the earlier part of the session and the Sensex touched the new high of 4395.31. However, share prices crashed after the mid-session mainly on profit-taking. The volume of business remained brisk and crossed the Rs 1300-crore mark.The BSE sensitive index opened steady at 4302.96, but spurted thereafter and touched another new high at 4395.31.The Sensex dropped towards the end and touched the day's low to 4295.40 on increased selling pressure before finishing at 4333.90, still with a net gain of 33.04 points compared to previous level of 4300.86. The Sensex registered a total gain of about 200 points during last three trading sessions. The BSE-100 index moved up by 14.58 points to 1858.13.Brokers said FIIs made purchases at the counters like Glaxo, Castrol, BHEL, Colgate, Bombay Dyeing, ITC, Tisco, HPCL, BPCL, MTNL, BHEL, HDFC, ICICI, ACC and others. The profit-taking was also due to technical considerations of the market following sharp uptrend in the last few sessions and selling pressure by financial institutions led by UTI.The session was marked by large scale buying in steel stocks on reports that steel companies have effected substantial price hikes following the increase in steel prices in the international market. Reports that Steel Authority of India Ltd (Sail) registered a seven per cent growth in the sale of mild steel during the first quarter of the current financial year over the corresponding period last year also boosted the sentiment.SBI recorded highest turnover of Rs 250.12 crore of the total business of Rs 1238.08 crore. Other active scrips were Tisco (Rs 230.56 crore), Reliance (Rs 178.70 crore), ITC (Rs 121.73 crore) and ACC (Rs 57.14 crore). BHEL spurted by Rs 22.50 to Rs 22.50 and Hindalco Rs 17.50 Rs 1011.50. Tata Steel advanced further Rs 7 to Rs 211.50. Reliance and SBI eased by one to Rs 349 and Rs 368.50 and ITC declined by Rs 11.50 to Rs 544.50.On the National Stock Exchange (NSE), the new trading settlement opened on an optimistic note as pivotals firmed up smartly following good buying support from foreign and domestic institutions. The NSE-50 index closed at 1212.95, netting a gain of 22.50 points. The Midcap index also firmed up by 23.10 points to 1197.80.
