MUMBAI, Feb 19 (Reuters): The BSE Sensex rose for a fourth consecutive session on Wednesday to mark its highest close in nearly four weeks, although amid low volumes, after software exporters such as Infosys gained on continued optimism about US business.
A positive interim budget, stable inflation, foreign flows and satisfactory December-quarter results have increased confidence in Indian equities ahead of general elections, the next key trigger, due by May.
Finance minister P Chidambaram projected a fiscal deficit of 4.1 per cent in 2014/15 and a gross market borrowing of 5.97 trillion rupees, lower than what the market had been expecting in the interim budget on Monday.
Also boosting sentiment, overseas investors bought Indian shares worth $46.92 million on Tuesday, extending their buying streak in Indian shares to a fifth day, totalling $221.79 million, after being sellers in each of previous sessions this month till February 10, regulatory and exchange data showed.
"A domestic election is a non-economic event that has a huge bearing on sentiment and any lull in allocation into India by global investors would purely be temporary in nature. Long term FII investments into India in 2014 should continue to be robust," said Sandeep Nayak, executive director of Centrum Broking Ltd.
The benchmark BSE index rose 0.43 per cent, or 88.76 points, to end at 20,722.97.
Sensex at near-four-week closing high, volumes low
FE Team | Published: February 20, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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