[TEXT OMITTED FROM SOURCE] market staged a quiet rally yesterday, with a steadier showing by the dollar in foreign exchange supplying some of the spark.

The Dow Jones average of 30 industrials, which had dropped 10.74 points in the three previous sessions, rose 4.33 to 755.37.

Gainers held a 5-3 advantage over losers on the New York Stock Exchange, and the exchange's composite common-stock index climbed 22 to 49.66.

Volume on the Big Board totaled 20.13 million shares against 20.23 million Monday.

Nationwide turnover in NYSE-listed issues, including trades in those-stocks on regional exchanges and in the over-the-counter market, totaled 23.20 million shares.

Brokers noted some encouragment over an upswing by the dollar against several leading foreign currencies. The dollar began to pull out of a steep decline late Monday, thanks to support from the Federal Reserre and West Germany's central bank, and posted some further gains in yesterday's activity.

Standard & Poor's index of 400 industrials gained .45 to 97.65, and S&P's 500-stock composite index was up .40 at 88.86.

McGraw-Hill was the most active NYSE issue, up 1/8 at 19 3/8. A 100,000-share block of the stock traded at that price.

Lockheed, not far behind on the active list, rose 7/8 to 18. Pan American World Airways bought 12 Lockheed £1011-500 jets and got options to acquire 14 more in a deal which Pan AM said carried a price tag of $500 million.

Gillette dropped 7/8 to 25 5/8 after a 7/8-point loss Monday, when the company said it had pointed out "some negatives" about its first-quarter operations to security analysts.

Peter Paul lost 1 to 24 1/2. The company said the Federal Trade Commission was investigating its proposed merger into Britain's Cadbury Schweppes Ltd.

On the American Stock Exchange, the market value index rose .52 to 128.95.

The NASDAQ composite index for the over-the-counter market closed at 106.20, up .31.