MUMBAI, July 28: After past few sessions downtrend, pivotals staged a modest recovery on the Bombay Stock Exchange (BSE) today on emergence of short-covering on renewed buying support from foreign funds. Sensex gained by 82 points. The closing rates showed widespread modest to handsome gains. The BSE sensitive index shot up by 81.67 points to 3166.84 as compared to previous close of 3085.17. The BSE-100 index recovered by 34.29 points to 1394.74 from the previous level of 1362.45.Brokers said that despite discouraging performance for first quarter of the current year including that of Telco which was announced today, the sentiment turned better mainly on short-covering in view of today being the last session for the current settlement on the NSE. The FIIs bought small lots of Telco shares at lower level.The sharp rise in the heavy weighted shares in the Asian market improved the sentiment of FIIs and domestic institutional investors to invest in the capital market. Hectic buying was witnessed at thesoftware counters.Meanwhile on the NSE, pivotals recovered on the last day of the current settlement cycle on brisk buying by financial institutions (FIs). The S&P CNX Nifty index, after a weak start at 899.10, recovered to end at 917.25, showing a rise of 17.90 over the previous close of 899.35. The S&P CNX Defty index also opened subdued at 731.90, but rose to close at 747.20.
