Mumbai, 23 Jul (PTI): In a narrow range of trade, short coverings ahead of the expiry of derivatives contract on July 25 pushed the benchmark sensex up by 143 points to log its more-than 2-1/2-years closing high of 20,302.13 following firm global cues, extending gains for the fifth straight session.
Buying was seen across-the-board, mainly in front-line stocks, as all sectoral indices closed in the green between 0.04 pct and 3.85 pct with consumer durable, FMCG, realty and banking stocks taking the lead.
FMCG majors, ITC and HUL, mainly were in the limelight on good institutional buying support on good rainfall across the country and contributed more than 70 points to sensex kitty.
ICICI Bank, Infosys, SBI, M&M, ONGC, Dr Reddy’s Lab and BHEL also were in demand while second-line stocks underperformed the sensex on lack of participation by retail investors.
The Bombay Stock Exchange 30-share gauge resumed sharply higher and remained in positive terrain throughout the day on firm global trends and settled at more-than 2-1/2-year high of 20,302.13, showing a rise of 143.01 points or 0.71 pct. Last time, it had settled at 20,498.72 on January 4, 2011.
The wide-based CNX Nifty of the NSE also closed higher by 46.00 points or 0.76 pct to end at almost two-month high of 6,077.80.
Asian stocks closed sharply higher after data showing decline in US home sales damped concerns the Federal Reserve will reduce stimulus measures. Key benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Taiwan rose by 0.82 pct and 2.33 pct.
European stock markets were trading marginally higher, mirroring a positive session in Asia after officials signaled China is committed to supporting growth in the country. Key benchmark indices in UK, Germany and France were up by 0.09 pct to 0.27 per cent.
Moving to the local market, 21 scrips out of the sensex pack ended higher while nine others closed with losses.
Major gainers from the sensex pack were HUL (3.19 pct), BHEL (2.23 pct), M&M (2.11 pct), SBI (2.03 pct), Sterlite Ind 1.87 pct), ITC (1.84 pct), Dr Reddy’s Lab (1.79 pct), Icici bank (1.54 pct), ONGC (1.46 pct) and Tata Power (0.91 pct).
However, Wipro dropped by 2.23 pct and Bharti Airtel 1.79 pct.
Among the sectoral indices, S&P BSE-CD rose by 3.85 pct followed by S&P BSE-FMCG 1.53 pct, S&P BSE-Realty 1.42 pct, S&P BSE-Bankex 1.29 pct and S&P BSE-PSU 0.89 pct.
The market breadth was mixed as 1,150 shares ended in red while 1,149 shares finished in green and 173 scrips ruled steady. Total turnover declined to Rs 1,632.17 crores from Rs 1,651 crs yesterday.
Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth a net Rs 406.02 crore yesterday as per provisional data from the stock exchanges.