DECEMBER 9 : Pivotals led by infotech and telecom stocks recovered on the Bombay Stock Exchange (BSE) today on renewed buying support from foreign funds and local operators. Apart from Infosys Technologies, Pentafour Software, Satyam Computer, Global Tele-Systems other select scrips like ACC and Reliance also attracted buying support.The benchmark Sensex opened at 4796.80, surpassing the 4800 mark and moved between 4849.96 and 4762.52 before closing at 4839.16 showing a net gain of 39.94 points from the previous close of 4799.22. The BSE-100 index also advanced by 24.65 points as against the previous close of 2353.81 points.Brokers said the small recovery was also due to short covering. The business volume was lower compared to yesterday's record volume. The net outstanding position has declined substantially in the last two days and is currently hovering around Rs 2800 to Rs 3000 crore and the market may continue a firm trend in the coming days.Infotech stocks made a significant recovery towards theend of the session, ushering in buoyancy on the stock market following revival of buying by overseas funds and domestic players amidst short-covering. Traders said after a brief technical correction, stocks regained strength on revival of buying by some foreign funds and domestic players and wiped off most of the earlier losses.
