BSE Sensex surges for 3rd day

Key benchmark indices on Monday edged higher for the third in a row as firm European stocks boosted sentiment.

The market also drew comfort consequent to foreign fund turning net buyers of domestic stocks on Friday last thereby ending a 13-day selling streak.

The BSE Sensex advanced 181.58 points or 0.94 per cent to 19,577.39, its highest closing level since June 3, 2013. The 50-unit CNX Nifty at NSE was up 56.65 points or 0.97 per cent to 5,898.85, its highest closing level from June 6, 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 1124.31 crore on June 28, as per data from bourses. It may be noted that equities, bonds and the rupee rallied on June 28 after the government agreed to raise natural gas prices as part of economic policy overhaul to revive growth.

In the day's trade, Reliance Industries surged 2.8 per cent, which is a 5-month high, while power utilities Tata Power and NTPC increased by 2.5 per cent. Realty stocks edged higher while pharma stock Dr Reddy's Laboratories hit record high of Rs 2,285.