Mumbai: The BSE benchmark Sensex on Wednesday closed 44 points higher on buying support on optimism that the government would succeed in getting Parliament approval to its decision to allow foreign investment in retail.
Led by Reliance Industries, the Sensex settled the day at 19,391.86, higher by 43.74 points, or 0.23 per cent. The broad-based National Stock Exchange index Nifty regained a crucial 5,900 level by rising 11,25 points, or 0.19 per cent to 5,900.50.
Brokers said major market players remained selective in front runner and mid-cap sector stocks amid the prevailing optimism that the government would succeed in getting Parliament approval to its decision to allow foreign investment in retail.
Lawmakers will vote later in the day on the government decision to allow FDI in the retail sector. Traders said overseas investors remained the biggest buyers for almost two weeks by taking USD 20.2 billion of Indian equities this year so far.
Reliance Industries rose by 0.87 per cent to Rs 830.90 and copper manufacturer Sterlite Industries jump 5.37 per cent to Rs 112. 80 as the metal traded near a six-week high in London.