Continuing its upward march for the fourth straight day, the BSE Sensex today rose by 39 points to close at fresh 28-month high of 20,286.12 helped by buying in ICICI Bank, L&T and Infosys shares amid increased capital inflows.
After a sedate start, the 30-share index rose by 38.79 points, or 0.19 per cent, to end the day at 20,286.12 -- the highest since 20,301.10 on January 5, 2011.
It has gained 594.45 points or 3 per cent in 4 days. On a weekly basis, BSE Sensex has gained just 0.81 per cent.
The National Stock Exchange index -- Nifty -- today rose by 17.40 points, or 0.28 per cent, to 6,187.30. Also, MCX-SX flagship index SX40 rose 18.03 points, or 0.15 per cent, to end at 11,972.52.
Brokers said the market remained bullish on reports of higher foreign fund inflows on optimism about a rate cut by RBI in the wake of falling inflation numbers.
A better trend in Asian region and higher opening in Europe further influenced the trading sentiment, they added.
Most Asian stock ended higher. European stocks showed a mixed trend in their early trade.
Power, Capital Goods and Realty sectors attracted good buying. Bhel was the best performer with shares jumping by 4 per cent on FII buying.
Banking scrips were in demand on hopes of interest rate cut with ICICI Bank (1.92 per cent) and SBI (0.41 per cent) among gainers.
ITC ended 0.62 per cent down after posting Q4 results. Bharti Airtel and Sterlite Ind. were among major losers.
Outside major indices, JM Financial rose by 13.4 per cent after the company said former Citigroup chief Vikram Pandit will buy stake in the firm and lead proposed banking foray.
Globally, benchmark indices in China and Japan today rose by 0.67 per cent to 1.38 per cent while indices in Singapore and Taiwan declined by 0.09 per cent to 0.26 per cent. Stock markets in Hong Kong and South Korea were closed today.
European stocks showed a mixed trend in their early trade as indices in UK and France inched up by 0.10 per cent to 0.10 per cent while Germany's DAX eased by 0.06 per cent.
US stocks fell yesterday after reports said Federal Reserve may pullback the central