Mumbai: The benchmark crossed 3,400-mark at early stages in line with smart share rally on the Bombay Stock Exchange (BSE) on December 27 following all round buying by operators.

Led by oil major, Hindustan Petroleum Corporation Ltd (HPCL), most of the public sector undertaking (PSU) stocks were in the forefront just ahead of Cabinet Committee on Disinvestment (CCD) meeting on December 27, which intends to bring down government stake in HPCL to 15 per cent and Bharat Petroleum Corporation Ltd (BPCL) to 26 per cent.

Petrochem giant, Reliance Industries Ltd (RIL), continued to be in keen demand due to getting regulatory approval just before launching of its wireless in local loop (WLL), allowing the company to start offering the services.

Ranbaxy Laboratories was also in limelight on receiving US Food and Drug Administration (FDA) approval for anti-acne drug Accutane.

Steel companies like Tisco, Jindal Steel and SAIL also attracted good buying support on expectation of price hike.

The BSE-30 share sensitive index opened firm at 3,393.58 as against the December 26 close of 3,382.64 and later moved up further to a high of 3,412.39 before being quoted at 3,403.00 at 10.30 a.m (IST)

PTI