Elsewhere, market favourities information technology, telecom and entertainment sector company stocks remained the centre of hectic activity throughout the session on sustained buying by foreign institutional investors and bull operators.

Mirroring the upbeat mood of the market, the Delhi Stock Exchange benchmark index recovered by 13.46 points to close at 1016.94 point. Though it crossed 1042 points at the initial stages after index-related Reliance industries stock prices shot-up at a rapid pace but late selling by profit-takers in heavy-weighted counters pruned earlier gains.

Stock brokers said a respite in selling of long-neglected economy stocks followed by revival of buying activity at lower levels by domestic financial institutions helped the benchmark to stage partial recovery.They said besides FIIs, speculators were seen creating fresh positions in economy as well as IT sector stocks in view of beginning of fresh settlement.Reports of a rise of nearly 3.7 per cent in the NASDAQ composite index last weekend too fuelled the soaring it and telecom sector stock prices on the domestic bourses, they added.

Among infrastructure stocks, ACC after witnessing a long bearish phase rebounded to hit upper end circuit-filter of price band after exhausting daily limit of 8 per cent at Rs 149.40 over its previous closing of Rs 140.40 on resumption of buying by domestic finanicial institutions and speculators at prevailing attractive prices.

Larsen and Toubro and Grasim Industries too followed suit and recovered sharply by Rs 25.70 and Rs 5.05 to close at Rs 326.70 and Rs 374.90 while Jaiprakash Industries shares were frozen at Rs 60.60 as against previous closing of Rs 56. 25.

Pharmaceutical sector stocks regained some strength with Ranbaxy Laboratories recovering by Rupees 24.95 at Rupees 720 and glaxo India up Rupees 19 at Rupees 464 on revival of buying by financial institutions, though selective.