Sensex extends gains to fourth day, up 173 pts

Extending gains for the fourth day in a row, the BSE benchmark Sensex on Friday rose by 173 points on sustained buying driven by expectations of a cut in interest rates by the Reserve Bank.

The 30-share Sensex, which had gained 568 points in the last three sessions, advanced further by 173.11 points, or 0.99 per cent, to 17,604.96.

Similarly, the National Stock Exchange index Nifty rose by 55.95 points, or 1.06 per cent, to 5,325.85 with blue-chips, led by Reliance Industries and Infosys, recording gains.

Brokers said market sentiment remained buoyant on reports that the Reserve Bank of India might slash interest rates in view of slowing food inflation.

Sensex heaviest Reliance Industries rose by 1.10 per cent to Rs 837.75 and second heaviest Infosys gained 0.96 per cent to Rs 2,779.95.

The realty sector index gained the most by rising 2.15 per cent to 1,784.17, followed by healthcare index which gained 1.69 per cent to 6,411.72 as Dr Reddys surged 2.16 per cent to Rs 1,670.50 on encouraging quarter earnings.

Others on the plus side were Bharti Airtel, Sun Pharma, Tata Consultancy Services, ONGC, Mahindra and Mahindra, Tata Motors, ICICI Bank, Hindustan Unilever, HDFC Bank, BHRL and Cipla.