Mumbai: The Sensex opened firm and showed signs of a fresh rally on the back of sustained upsurge in select blue-chip stocks during morning trading on the Bombay Stock Exchange (BSE) here today (June 28, 2004) on continued buying support.

The BSE Benchmark 30-share Index opened higher at 4784.58 as against last Friday's close of 4756.39 and later moved up further to a high at 4801.78 before being quoted at 4790.05 at 10:30 hours (IST), a net gain of 33.66 points.

Attributing buying support from operators and retailers to news that the Budget to be presented in the Parliament on July 8, is likely to provide sops for investment and relief to salaried class, brokers said the market is expected to witness a pre-Budget rally during the week.

Steel shares were in the limelight on reports that steel prices might start rising in line with a firm trend in international markets on the back of a revival in Chinese demand.

Key counters like Tisco, Tata Power, SBI, RIL, Satyam Computer, Wipro, MTNL, Infosys Tech, Hindalco, HPCL, Grasim, GACL, Dr Reddy's Lab and Zee Telefilms were quoted remarkably higher on fresh buying support.