Sensex gains for third day; RIL rises 3.13%
The BSE benchmark Sensex on Wednesday closed seven points up on the back of a strong rally in market heavy Reliance Industries amid a firming global trend.
Mumbai: The BSE benchmark Sensex on Wednesday closed seven points up on the back of a strong rally in market heavy Reliance Industries amid a firming global trend.
Extending gains for third day in a row, the Sensex rose 7.03 points, or 0.04 percent, to close at 19,642.75. The gauge had gained over 167 points in last two trading sessions.
Similarly, the broad-based-based National Stock Exchange index Nifty rose by 3.35 points, or 0.06 percent, to 5,943.05, after moving between 5,971 and 5,937.55.
Brokers said while profit-booking erased most of the day's gains, an upsurge in trend-setter Reliance Industries and software exporting companies kept the market in better tone.
The RIL stocks spurted by 3.13 percent to Rs 875.35 following reports of the company plans to invest in next three to five years jointly with UK partner BP to boost declining output at a key natural gas field. The oil and Gas sector index gained the most by rising 1.70 percent to 9,170.01.
A firming trend in the Asian region and higher opening in Europe further influenced the market sentiment to some extent, traders said.
The refinery, realty and information technology stocks were the major supporter to the market.
In 30-BSE index components, 11 stocks advanced while 19 closed with losses.
Realty sector index was second best performer by rising 0.77 percent to 2,134.64 followed by information technology index by 0.60 percent to 6,591.69.