The S&P BSE Sensex continued to rule firm for the second straight day, moving up by another 51 points to close at 27,308.60.

The market also boosted following Prime Minister Narendra Modi's approval to alternative mechanism on quantum of disinvestment in a particular Central Public Sector Undertaking on a case by case basis subject to Government retaining 51 per cent equity and management control.

The Sensex opened lower at 27,253.34 and hovered between 27,348.19 and 27,219.89 before ending at 27,308.60, showing a gain of 50.96 points or 0.19 per cent.

The NSE 50-share Nifty also rose by 18.10 points or 0.22 per cent to 8,435.10.Shares of Refinery, Telecom, Utilities, Energy, Power and Consumer Durable firmed up on good buying enquiries while Healthcare, Finance, banking and Realty declined on selling pressure.

Foreign portfolio investors (FPIs) bought shares worth a net of Rs 319.14 crore yesterday. Key indices like Japan, Singapore and South Korea firmed up by 0.11 pct to 0.94 pct while indices in China, Hong Kong and Taiwan moved down by 0.21 pct to 0.38 pct.

European stocks were trading lower in their afternoon trade amid a rebound overnight for the dollar and ahead of a European Central Bank rate decision today. Key indices like France, Germany and UK fell by 0.04 pct to 0.61 pct.