Sensex on Wednesday regained crucial 20,000-mark for the first time in over three months on the back of sustained FII buying and better-than-expected earnings by HDFC, but slipped to close a tad lower just few minutes ahead of the closing bell.
After consolidating for major part of the day, Sensex hit 20,000 level in fag-end of trading but closed at 19,990.18 recording a gain of 101.23 points, or 0.51 per cent. It has now gained over 410 points in three days. Sensex had touched 20K-level on January 31 but failed to close above the mark.
Buying was seen in heavyweights amid market breadth remaining equal as 975 stocks closed with gains while 974 ended with losses. HDFC which rose 3.8 per cent and FMCG major ITC that gained 2.2 per cent together pushed up Sensex by 100 points.
HDFC Bank, HUl, Tata Motors, TCS, Coal India and Hindalco clocked smart gains. The upsurge was supported by stocks of FMCG, oil and gas and banking sectors.
Nifty rose by 25.75 points, or 0.43 per cent, to 6,069.30. Similarly, MCX Stock Exchange (MCX-SX) flagship index, SX40 rose by 65.53 points, 0.56 per cent, to close at 11,796.74 points.
“Equity market extended gains yet again despite ongoing political mayhem. The Nifty was seen retaining the 6000-mark and we expect the momentum to continue further,” said Amar Ambani, Head of Research, IIFl.