Mumbai: The BSE Sensex scaled higher for the third consecutive session on Tuesday, adding more than 650 points in three days. After looking at sharp spike in metals and oil & gas stocks, it seemed that investors made some serious buying into these stocks.
Experts feel it is more of a liquidity driven rally rather than pre-Budget.
The BSE benchmark rose 225.95 points or 1.28 per cent, to close at 17,813.62, supported by 25 components. Meanwhile, the NSE benchmark retained its 5400 level quite nicely; it climbed 69.95 points or 1.31 per cent to 5,429.50.
Global markets were firm ahead of Federal Open Market Committee' meet on Tuesday. Markets are eyeing indications of QE3 as well as comments on strength in US economic data.
European markets like France's CAC, Germany's DAX and Britain's FTSE went up 1 per cent each while Dow Jones futures gained 72 points. Asian markets too closed higher.
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