Sensex extends gains for third day, up 162 points on global cues

Markets finished higher for the third straight session on Monday, with benchmark Sensex rising  about 162 points to close at almost four-week high of 33,788.54 on continued buying by domestic institutional investors (DIIs).

Besides, investor sentiment got a further boost amid optimism ahead of the earnings season, which will begin later this week with Infosys’ January-March results on Friday.

Brokers said a firm trend in other Asian markets and a higher opening of European shares on easing concerns about a sharp rise in US interest rates also helped in adding to positive cues.

The Sensex opened strong and continued to rise on persistent buying activity and hit a high of 33,846.50 but profit-taking at the fag-end trimmed gains to some extent and finally settled at 33,788.54, a gain of 161.57 points, or 0.48 per cent.

The barometer had gained 607.90 points in the previous two sessions.

On similar lines, the 50-share NSE Nifty stayed in the green for the most of the session and hit a high of 10,397.70, before closing at 10,379.35, up 47.75 points or 0.46 per cent.

Meanwhile, DIIs bought shares worth Rs 1,305.45 crore, while foreign portfolio investors (FPIs) sold stocks of Rs 524.85 crore on Friday, as per provisional data.