Rising for third consecutive day, the BSE benchmark Sensex on Thursday advanced by 34 points to close at fresh 28-month high on good gains in heavyweight Reliance Industries and banking shares amid continued hopes of a rate cut.

The BSE benchmark Sensex resumed lower on profit-booking in select counters. However, it recovered afterwards to settle for the day at 20247.33, clocking a gain of 34.37 points.

It has gained over 556 points in three sessions.

The NSE 50-share Nifty also firmed up by 23.15 points to close at 6169.90.

Rupee edges up

The rupee on Thursday closed just a paisa higher at 54.77 against the dollar. Continued dollar investments in shares by foreign funds helped the rupee close in the positive zone while firm dollar overseas kept the rupee’s rise under check, said traders. — PTI