Benchmark share indices firmed up in late trades to end near their day’s highs with the Sensex closing above 26,000 for the second time amid a rally in telecom shares and renewed buying interest in Reliance Industries and HDFC Group shares.
Shares of telecom services providers such as Bharti Airtel and Idea Cellular ended higher after the telecom regulator authority of India (TRAI) recommended allowing sharing of all categories of airwaves held by operators, the move could help companies to reduce cost of mobile services.
The 30-share Sensex ended up 311 points at 26,026 after hitting an intra-day high of 26,050 and the 50-share Nifty gained 84 points to close at 7,768 after touching a high of 7,774.
Foreign Institutional Investors remained buyers for the fourth straight session till Monday with net equity purchases of Rs 3,270 crore, according to stock exchange.
The Indian rupee was closed at Rs 60.26 against the previous close of Rs 60.30 tracking weakness in the US dollar against Asian currencies while inflows by foreign funds in equities also boosted sentiment.
