Mumbai: Led by Reliance Industrial Limited (RIL) and HPCL (Hindustan Petroleum Corporation Limited), old-economy stocks rallied smartly extending SENSEX's winning streak to straight seventh session on the Bombay Stock Exchange (BSE) on November 25 on sustained bull support and buying from domestic mutual funds as well as Foreign Institutional Investors (FIIs).

HPCL, which got severe battering during last week, bounced back with a vengeance on indication that some compromise formula was being worked out for the strategic sale of the key oil PSU (Public Sector Undertaking), brokers said.

RIL was in the forefront scoring sharp gains on hectic buying by bull operators and fresh support from FIIs, which were reportedly net buyers also in select software stocks that later gave up part of early gains due to profit-booking at higher levels.

The BSE benchmark 30-share index opened moderately up at 3146.93 and gradually moved upwards to the intra-day high at 3183.29 before ending at 3175.56 as against last Friday's close of 3141.61, netting a rise of 33.95 points or 1.08 per cent.

The broad-based BSE-100 index also firmed up by 17.59 points to 1557.66 from previous close of 1540.07.

Bank shares of SBI and ICICI Bank too attracted fairly heavy buying from investors prompted by the passage of Securitisation Bill in Lok Sabha during last week and ended with remarkable gains.

Auto stocks like Bajaj Auto and Hero Honda recorded sharp gains aiding the SENSEX rally.

PTI