Mumbai: The Sensex extended its gains to second consecutive session aided by selective stocks rally in an otherwise restricted activity on the Bombay Stock Exchange (BSE) today (Nov 17) on fresh buying support from investors.

The BSE benchmark 30-share index opened marginally lower at 4,907.02 and later fluctuated in a range between 4,959.96 and 4,882.97 before ending at 4,940.23 as against last Saturday's (Nov 15) close of 4,911.76, a net rise of 28.47 points or 0.58 per cent.

The broad-based BSE-100 index improved further by 18.62 points to 2,551.09 from previous close of 2,532.47.

The market witnessed stock-specific activity as Foreign Institutional Investors (FIIs) were confined to selective purchases with their focus on select old economy blue chips.

Operators were believed to have made fresh commitments in a few key stocks even as a slow down by the principal driving force FIIs, which have held huge outstanding positions in the derivatives, induced fears that they might resort to selling before end of the year.

FIIs had relatively slowed down activity during last week, making net investments of Rs 805 crore in the first four sessions as compared to Rs 1,506 crore in the same period of the preceding week.

HPCL was in the limelight having attracted brisk activity after the Supreme Court in-principle agreed to reconsider its earlier judgement on disinvestments of the oil majors.

Meanwhile, brokers ruled out any major impact on the market of the BSE decision to impose revised margins on 96 counters, on the basis of member-wise gross purchase and sales positions.

PTI