The NSE benchmark Nifty extended its gains for the third consecutive session today to end at 10,322, up 57 points on buying in IT, PSU bank, pharma and FMCG sectors amid expectations of BJP's win in Gujarat polls coupled with positive global cues.
With the voting for 89 seats in the first phase of the assembly elections in Gujarat over on December 9, the market will be waiting for the second round of polling in 93 constituencies to be held on December 14.
The counting of votes will take place on December 18.
Investor are expecting the ruling BJP to emerge victorious in the elections.
Overseas, European stocks advanced ahead of upcoming European Central Bank (ECB) and US Federal Reserve meetings later this week. Asian stocks edged higher following strong finish on the Wall Street on Friday.
The broader NSE Nifty ended above the key 10,300-level at 10,322.25, gaining 56.60 points, or 0.55 per cent. It shuttled between 10,329.20 and 10,282.05.
It saw an intra-day movement of about 47.15 points.
On the sectoral front, IT rose by 1.35 per cent, followed by PSU Bank 1.12 per cent, Pharma 0.96 per cent, FMCG 0.95 per cent, Fin Service 0.65 per cent and Auto 0.59 per cent.
However, energy and realty fell 0.27 per cent and 0.17 per cent, respectively.
Major index gainers were Aurobindo Pharma, UPL, Wipro, TCS and Mahindra & Mhindra.
Losers were Infra Tel, NTPC, Asian Paints, ONGC and Hindalco.
The market breadth, indicating the overall health of the market, was in favour of gainers. On the NSE, 923 stocks advanced, 847 declined and 58 remained unchanged.
Total securities that hit their price bands were 182.
Turnover in the cash segment fell to Rs 25,217.76 crore from Rs 30,835.91 crore last Friday.
A total of 13,370.87 lakh shares changed hands in 9,673,522 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,45,00,705 crore.
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