Mumbai: The benchmark Sensex on Monday extended its gains for the third straight session, rising 127 points to end at one-week high on fag-end buying in capital goods, FMCG and IT shares ahead of retail inflation and IIP data releases.
The NSE Nifty index reclaimed the 8,300-mark by rising 38.50 points, or 0.46 per cent, to end at 8,323. After staying in red for most part of the session, the broader indices gained pace in the last one and a half hours.
The BSE Sensex resumed higher at 27,523.86 on initial buying but fell to a low of 27,323.74 on profit-booking. However, the index recovered during the afternoon session session to 27,620.66 on fag-end buying before concluding at 27,585.27, logging a gain of 126.89 points or 0.46 per cent from its last weekend's level. This is its strongest close since 27,842.32 on January 5. In three successive days, Sensex has gained over 676 points.
All eyes are now on November IIP data and December retail inflation, to be released later today.
"Markets rose with the expectations that the economy may come out of the contraction in industrial activity as depicted by October's IIP data," said Bonanza Portfolio, Senior Vice President, Rakesh Goyal.
Major Sensex gainers included Infosys, L&T, HDFC, ICICI Bank and HUL, while Reliance Industries, HDFC Bank and Coal India were among the notable laggards.
Meanwhile, provisional data showed that foreigners sold shares worth a net Rs 297.99 crore on last Friday. Most Asian stocks ended lower amid concern that Europe's stimulus plans may not solve the euro region's economic woes.
Key indices in Hong Kong and Singapore moved up by 0.19 per cent to 0.45 per cent while indices in China, South Korea and Taiwan dropped by 0.19 per cent to 1.71 per cent.
The Japanese market remained closed on Monday. European markets were trading narrowly mixed as indices in Germany and the UK declined by 0.10 per cent to 0.51 per cent while France's CAC was quoting 0.48 per cent up.
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