Market Bounces Back; Dow Gains 28 Points
NEW YORK, July 28ÛÓThe stock market strengthened today in a technical rally led by blue-chip and high-technology issues.</br></br>The Dow Jones average of 30 industrials rose 28.63 to close at 2082.33, erasing a 20-pomt drop in the previous session. Advancing issues outnumbered declines by about 5 to 3 in nationwide trading of New York Stock Exchange-listed stocks.</br></br>Volume on the floor of the Big Board came to 154.57 million shares, against 135.89 million in the previous session. Nationwide, consolidated volume in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 177.72 million shares.</br></br>The market opened on a tentative note, but analysts said the market was poised for a technical rebound.</br></br>ÛÏIn the last several days the broader market was doing better than the Dow,Û which had reached the low end of its recent trading range, said Alfred E. Goldman, vice president at A.G. Edwards & Sons Inc. in St. Louis. "That was a precondition for a technical bounce,Û he added.