Bucking an early weak trend, the Bombay Stock Exchange benchmark Sensex rose for the third straight day by over 69 points on 5 April on heavy buying by funds largely in cement stocks.
The 30-share sensitive index, which opened higher by 75 points, rebound to settle with a gain of 69.31 points, or 0.54% at 12,856.08 as cement stocks firmed up on reports that the core commodity majors cement companies might reduce prices.
The wide-based National Stock Exchange index Nifty rose by 18.75 points at 3,752, after touching day’s low of 3,709.15.
ACC, the largest cement maker rose Rs7.45, or 1.04% at Rs 721.90, Grasim, the third-biggest cement maker, added Rs49.10, or 2.38% to Rs2,113 and Gujarat Ambuja Cements, the fourth largest, gained 95 paise to Rs105.90.
While metal stocks remained the biggest supporters to the bourses across the board on emergence of investment buying, refinery stocks led by Reliance Industries and ONGC fell as oil prices declined after Iran said it will release 15 British sailors and marines.