Mumbai: Led by oil major HPCL (Hindustan Petroleum Corporation Limited), select old-economy blue-chip counters registered smart gains, helping the SENSEX to close up by 15.36 points at 3398.00 on the Bombay Stock Exchange (BSE) on December 27, extending the rally to the third consecutive session on the back of sustained buying.

Majority shares from the Public Sector Undertakings (PSUs) segment attracted good demand ahead of the Cabinet Committee on Disinvestment (CCD) meeting later today (Dec 27), which intends to bring down government stake in HPCL to 15 per cent and BPCL (Bharat Petroleum Corporation Limited) to 26 per cent.

Cement and auto scrips were also in the limelight on renewed purchases by retail investors.

Meanwhile, Petrochem giant, RIL, ended lower on late profit taking after the scrip attracted early buying support ahead of the launch of Wireless in local loop (WLL) services.

The BSE-30 share sensitive Index opened firm at 3393.58 and moved up to the day's high of 3413.80. Later it met with strong resistance and fell back to settle at 3398.00 as against yesterday's close of 3382.64, a gain of 0.45 per cent.

The broad-based BSE-100 index also improved by 6.87 points to 1668.47 from previous close at 1661.60.

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

Barring a few IT counters that ended with gains, other software shares declined on profit-booking by operators. PTI