Mumbai: SENSEX recovered smartly after initial weakness in line with rally in steel shares on the Bombay Stock Exchange (BSE) on October 1 that noticed two-way movements at morning session.

Steel counters like Tisco, SAIL, Jindal Steel and Saw Pipes attracted good buying support and were quoted remarkably higher.

The BSE-30 share sensitive index resumed slightly lower at 4,452.07 as against September 30 close of 4,453.24 and moved erratically in a range between 4,465.84 and 4,432.93 before being quoted at 4,458.38 at 10.30 am (IST).

Dealers attributed early setback to negative advices from Wall Street where the Dow Jones Industrial Average and the Nasdaq Composite Index dipped by 105.18 points and 37.62 points on September 30 night respectively.

Select public sector undertakings (PSUs) stocks, including refinery, remained in limelight on institutional buying.

Some of the IT shares, particularly front-line, were quoted moderately lower on profit selling.

Among major gainers, Jaiprakash Ind was quoted up by 6.02 per cent, EIL by 5.31 per cent, Neyveli Lign by 4.35 per cent, Kotak Mah by 4.34 per cent, Nalco by 3.94 per cent, Wockhardt by 3.93 per cent, Aurobindi Ph by 3.87 per cent, LIC Housing Fin by 3.12 per cent, Sterling Biotech by 3.00 per cent and Abbott by 2.82 per cent.

However, Tata Telecom was down by 3.60 per cent, Pentamedia by 3.49 per cent, Trent by 3.15 per cent, E-Serve by 2.52 per cent and SSI Ltd by 1.99 per cent.

PTI