The stock index rose 117 points to close at a six-week high of 19,504.18 on fund buying in bluechips led by FMCG stocks such as Hindustan Unilever after its parent company Unilever Plc announces open offer to hike stake in its Indian arm to 75 per cent.
The Sensex rose by 116.68 points, or 0.60 per cent, to 19,504.18, a level last seen on March 15. The index had gained 101 points in the previous session.
The gauge had touched the day's high of 19,622.68 and a low of 19,317.38 as investors continued to shift their portfolios.
Similarly, the National Stock Exchange index shuttled between 5,962.30 and 5,867.80 before ending with a gain of 26.10 points, or 0.44 per cent, to 5,930.20.
The stock of Hindustan Unilever surged 17.28 per cent to Rs 583.60 after Anglo-Dutch consumer goods giant Unilever Plc said it will spend $5.4 billion (over Rs 29,380 crore) to hike stake in its Indian arm to 75 per cent through an open offer.
In 30-BSE index-components, 18 stocks gained led by ICICI Bank, Mahindra and Mahindra, Sun Pharma, Infosys, Coal India, BHEL and Dr Reddy's Lab.
The FMCG sector gained the most by 4.65 per cent to 6,548.52 backed by HUL. The metal index was second best performer by adding 0.96 per cent to 8,651.05 as copper maker Sterlite Industries rose by 4.03 per cent to Rs 95.45 after reporting higher quarterly earnings.
Trading sentiment partly influenced as investors expecting an interest rate cut in the Reserve Bank of India's monetary policy on May 3.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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