Sensex gains for third day, RIL rises 3.13%
The BSE benchmark Sensex closed up for the third day running, though only marginally by seven points. The index was helped by a rally in the market heavy Reliance Industries on back of news of joint investments with BPbusiness Updated: Feb 20, 2013 17:06 IST
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%, 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%, 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% 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% 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% to 2,134.64 followed by information technology index by 0.60% to 6,591.69.