The Bombay Stock Exchange benchmark Sensex on Monday rose by 31 points to close at a 33-month high on sustained buying by funds and retail investors.
The 30-share index closed 30.69 points higher at 20,475.73 points, matching the level seen in January 2008. The barometer had touched an intra-day high of 20,706.74 points but profit selling in last 30-minute pared some of the gains.
The broad-based National Stock Exchange index Nifty crossed the 6,200 level for the first time in 33 months before ending 16.05 points higher at 6,159.45 points.
A lower opening in the European markets triggered profit selling and reduced the gains, brokers said.
ICICI Bank, the country’s largest private lender, rose by 2 per cent to Rs 1,157.75. Market also got a boost from Reliance Industries, the heaviest in the Sensex, which rose by over 1 per cent, or Rs 18.60, to Rs 1,017.90.
Tata Motors advanced by 1.85 per cent, or Rs 16.50, to Rs 1,139.60, its highest level so far after pledging to cut debt.
The healthcare sector index gained the most by rising 1.69 per cent to 6,210.92 followed by consumer durable sector index by 1.47 per cent to 6,529.42. Banking index also rose by 0.79 per cent to 14,365.29.
The auto sector index rose by 0.63 per cent to 9,818.75. In 30-BSE index components, 14 stocks gained while other 16 led by software exporters ended in the negative zone.