The Bombay Stock Exchange benchmark Sensex on Tuesday rose by over 40 points to complete the four straight sessions of gains on institutional buying amid expectations of robust third quarter earnings by India Inc.
After a four-day holiday, the markets opened up over 80 points and surged to a fresh 19-month high. However, late profit booking trimmed early gains and the barometer index ended the day higher by 40.95 points at 17,401.56.
The Sensex touched the day’s high of 17,486.05 as stocks in power, metal and banking sectors recorded handsome gains.
Markets had spurted by 759 points in the last three trading sessions during the day.
On year-to-year recovery, the market has risen by a spectacular 80 per cent this year, set for its best annual performance in the past 18 years.
Purchases by global investors have reached USD 17.13 billion this year, poised to surpass the record USD 17.65 billion of net inflow into stocks in 2007.
The wide-based National Stock Exchange index Nifty rose by 9.55 points to 5,167.95, after crossing a crucial 5,200 points level during the day.