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Pivotals make moderate recovery; Sensex up 12.12 points, 2845.16

Pivotals recovered moderately at the Bombay Stock Exchange on speculative buying support from local operators and institutional investors today.

Encouraging results from MTNL and Raymond Woollen have boosted market sentiments partially in an otherwise dull market, dealers said.

The foreign institutional investors stayed away from active buying while the Unit Trust of India reportedly sold at select counters.

Mirroring the trend, the 30-scrip BSE Sensitive Index opened at 2825.46 points, touched the day's high of 2845.51, fell to the day's low of 2787.90 before closing at 2845.16 points, showing a net gain of 12.12 points against the previous close of 2833.04 points.

The broad-based BSE-100 index also advanced by 3.81 points to 1274.43 points from the previous close of 1270.62 points.

The business volume was thin in the market while the undertone remained steady, brokers said.

The BSE-200 and Dollex indices rose by 0.56 and 0.10 points to 297.15 and 116.98 points from the previous close of 296.59 and 116.88 points respectively.

Total turnover on the BSE declined sharply by Rs 3.27 billion to Rs 8.90 billion.

ITC topped the list of turnover by registering highest turnover of Rs 1.69 billion, followed by Satyam Computers Rs 1.31 billion, Zee Telefilms Rs 845.5 million, SBI Rs 544.6 million and Reliance Rs 510.3 million.

Other actively traded counters were Pentafour Software (Rs 461.9 million), Tata Tea (Rs 266.9 million), Telco (Rs 229.3 million), Raymond Wool (Rs 217.6 million), Hindustan Lever (Rs 162.3 million), Castrol India (Rs 148.7 million), MTNL (Rs 148.4 million), L&T (Rs 126.3 million), Dr Reddy's (Rs 121.9 million) and Infosys Technologies (Rs 117.8 million).

UNI