Extending gains for the third session in a row, the Bombay Stock Exchange benchmark Sensex on Tuesday rose 119 points on funds buying bluechips led by financials on rising investor hopes of rate cut by the RBI.
Sensex, which had gained 420 points in the last two sessions, rose another 119.27 points or 0.68 per cent to 17,597.42. Intra-day, it touched a high of 17,664.10.
The National Stock Exchange 50-scrip index Nifty rose 40.60 points, or 0.76 per cent to 5,358.50.
Asian markets rose after data signalled growth in China’s services industries.
Brokers said banking stocks gained up to 2.43 per cent on hopes that the Reserve Bank may cut rates at its meeting this month to ease liquidity crunch. Federal Bank spurted by 2.43 per cent, SBI by 1.95 per cent, Axis Bank by 1.56 per cent, ICICI Bank by 1.87 per cent and HDFC Bank by 0.51 per cent.
Top heavyweight Reliance Industries shot up 1.57 per cent. Of the 30 Sensex scrips, 21 made gains.
The consumer durables index gained the most by adding 2.14 per cent to 6,793.76, followed by capital goods index by 1.65 per cent to 10,370.55 as BHEL posted attractive quarter profits.
