Sensex maintained its winning momentum for a second consecutive session, rising 86.29 points to close at a six-week high of 24,804.28, as investors went with firm global cues instead of a further fall in wholesale prices and disappointing factory output data.
Asian and European markets, which advanced for a third day ahead of policy reviews by Bank of Japan and the US Federal Reserve, kept sentiment upbeat here.
Besides, weak industrial production also couldn’t stifle new positions despite declining for a third consecutive month in January.
“WPI released offered little surprise, but forecasts for lower CPI figure for February, due for release later in the day, arrested declines on expectations of further rate cuts when RBI meets next in April,” said Anand James, Co Head Technical Research Desk, Geojit BNP Paribas.