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Sensex gains 85 points, surges past 3900 by noon

The Bombay Stock Exchange continued its bullish swing today. Pivotals posted steady gains. Heavy buying activity was reported at Hindalco, ITC, Glaxo, Reliance, Raymond's, Colgate and Indian Rayon counters.

Commodity, financial service sector and refinery stocks were also in demand. FII buying and speculative activity was brisk in the morning session.

The 30-share benchmark index, the Sensex continued to rise right from the word go, and by 1330 hrs, reached 3906, up 85 points from yesterday's close.

IDBI hit the upper limit of the circuit breaker.

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