Stock markets came to extend gains for second straight day with the benchmark BSE Sensex advancing by 84 points on buying by domestic investors amid positive global trends.
The 30-share barometer had opened lower and fell to a low of 31,551.85 points as investors adopted a cautious approach ahead of the GDP data for the June quarter to be released later in the day.
Covering up of pending short positions by speculators on the expiry of the August derivatives contracts helped the index recover in the last hour of trade, brokers said.
The Sensex finally settled higher by 84.03 points, or 0.27 %, at 31,730.49. Intra—day, it hit a high of 31,757.18. The gauge had rallied 258.07 points in the previous trading sessions
The 50-issue NSE Nifty ended at 9,920.95, up 36.55 points, or 0.37 %, after shuttling between 9923.10 and 9,856.95.
Gains were led by realty, power, oil&gas, consumer durables and capital goods stocks.
In the Sensex kitty, Wipro topped the gainers list by surging 2.54 % followed by Bajaj Auto which rose 2.24 %.
Meanwhile, DIIs bought shares worth₹Rs 15,695.51 crore, while foreign portfolio investors sold shares of ₹16,073.21 crore on the domestic bourses as on August 30.
