Mumbai: Starting on an optimistic note, the SENSEX showed signs of a mild rally in a range-bound trading at early stages of the session on the Bombay Stock Exchange (BSE) on May 12 on selective buying support.

The BSE Sensitive Index opened better at 2955.19 as against the May 9 close of 2950.00 and later moved up to a high of 2965.37 before being quoted at 2961.92 at 10:30 hours (IST).

Blue-chip counters like Grasim Ind, Satyam Computers, HLL, GACL and a few others were quoted remarkably higher on fresh buying from institutional investors.

Institutional investors, which have been buying at lower levels, were believed to be buyers during morning trading, brokers said, adding that the market encounters resistance at every small rally.

Second-line counters also attracted fairly good activity as foreign funds that have reduced their holdings in some key stocks, seemed to have shifted attention to low-priced scrips.

PTI