Mumbai: Reacting to an overwhelming response to Maruti Udyog Ltd's (MUL) initial public offering (IPO), blue chip stocks rallied smartly, aiding the SENSEX to extend its gains to third straight session on the Bombay Stock Exchange (BSE) on June 13 on fresh buying, coupled with sustained purchases by foreign institutional investors (FIIs).

Equities, however, met with a moderate resistance and trimmed their gains as retail investors booked profits at higher levels due to last session of the current week.

The BSE benchmark 30-share index opened moderately higher at 3,342.65 and later fluctuated in a range between 3,364.02 and 3,338.90 before ending at 3,354.14 as against June 12 close of 3,337.30, netting a rise of 16.84 points.

The broad-based BSE-100 index advanced by 9.04 points to 1,708.73 from previous close of 1,699.69.

Brokers said speculators enlarged their positions in a number of counters on the back of increasing investments by FIIs, who were believed to have subscribed for majority of the bids for MUL's maiden public offer.

Index-based counters like HPCL, MTNL, RIL, L&T, Cipla, GACL, HDFC, HCL Tech, Hero Honda, ICICI Bank and Ranbaxy Lab also scored handsome gains.

However, heavyweight counters like BSES, Hindalco, ITC, Satyam Computers, SBI, Telco, Hindalco and Zee Telefilms suffered a marked setback.

Britannia Ind attracted fairly heavy interest on the company's decision to buy back a maximum of 25 lakh equity shares from open market at a price not exceeding Rs 650 per share.

PTI