Brokers said that Jardine Fleming placed orders for purchase of a huge chunk of demat shares. The deals were reportedly put through at a price of about Rs 720 against the closing price of Rs 662 at NSE and Rs 660 at BSE.

Close to 4.76 lakh shares were picked up at the BSE from only 3 trades at the demat segment. The total transaction was valued at Rs 34.37 crore. On the NSE demat segment, 35,000 shares of ITC at a value of Rs 2.39 crore were transacted through 14 trades.

Meanwhile, the rise in the global markets mirrored on the BSE Sensex which opened higher at3,094.04 points, went further up to touch the day's high of 3,103.87 before closing at 3,095.25 points, a net gain of 14.34 points against the previous close of 3,080.91 points.

Sentiment in the market improved with the global markets ascending with reasonable gains registered at the fag end of the trading session. Domestic institutional investors and speculators made small to moderate purchases in the index-based scrips while FIIs bought small quantities. ``Most of the market participants were squaring up their positions on account of end of weekly settlement on the NSE,'' said a BSE broker.

According to figures collated by NSE, FIIs were net buyers to the tune of Rs 25.79 crore with domestic institutions were net buyers at Rs 9.92 crore.``An interesting phenomenon is that the Indian market is not coming down much despite the fall in the global markets. This also means that the Indian markets have discounted the problems and the market seems to have bottomed out at this level. We are now only waiting forsome trigger to see the market move up like buy-back or the second quarter corporate results expected in the first week of October. The markets will then see another bout of volatility,'' said Dilip Bhat, vice president, Shailesh Merchant Brokers.

The offshore fund of Canbank Mutual Fund is reported to have bought one lakh shares of Pentafour Software while Digital Equipment is rumoured to have been bought by Schroder's. The Guiness Fund from US reportedly bought huge chunks of Reliance.

An FII, whose name could not be ascertained, made a buy order of 2 lakh shares at the counter of Dabur while Morgan Stanley sold SBI. Templeton is reported to have bought ICICI. Tata Infotech was bought by SBI Mutual Fund while UTI purchased HDFC Bank and pharma stocks.