Sensex gains for fourth day, up by 59 pts
The BSE benchmark Sensex closed at 17,578.23 points, a gain of 58.97 points over the previous close. The index had gained nearly 354 points in the last three sessions.business Updated: Mar 19, 2010 16:55 IST
The BSE benchmark Sensex on Friday rose by 59 points to extend the gains for the fourth straight day, the longest winning streak in two months, on sustained buying by investors in heavyweight stocks, led by Bharti Airtel.
The 30-share index closed at 17,578.23 points, a gain of 58.97 points over the previous close. The index had gained nearly 354 points in the last three sessions.
Brokers said funds and retail investors remained aggressive buyers after global rating agency Standard and Poor's upgraded the country's outlook to stable from negative.
A firming overseas trend and a better opening in European stock markets further fuelled the uptrend, they added.
The wide-based National Stock Exchange index Nifty rose by 16.90 points to Rs 5,262.80 points.
Bharti Airtel was the biggest gainer among the Sensex stocks rising nearly four per cent to Rs 311.85 after it applied for broadband wireless access services spectrum and 3G licence.
Reliance Industries, the heaviest among index stocks, rose by 1.37 per cent to Rs 1,089.80.
Marketmen said that the operators were seen busy in rolling over their positions, eigher short or long, to the next series ahead of the expiry of derivatives contract on March 25.