Mumbai: Market totally discounted the military strike on Iraq by US and rallied smartly at the early stages of the session on the Bombay Stock Market (BSE) on March 20 on fairly heavy buying by operators and retail investors.

After opening moderately lower at 3118.80 as against the March 19 close of 3121.18, the BSE-30 share Sensitive Index spurted to a high of 3148.43 before being quoted at 3118.32 at 11:15 hours (IST).

Brokers said the market witnessed hectic activity despite reports that the US warplanes launched multiple strikes in Southern Iraq early March 20 morning.

They said the sentiment had positive impact reportedly on a statement by Tisco chairman Ratan Tata that the war would not have any adverse impact on the company in particular.

PTI