Sensex rebounds 1.6 percent; banking, auto stocks climb

December 21st, 2011 - 1:59 pm ICT by IANS  

Sensex Mumbai, Dec 21 (IANS) A benchmark index for Indian equities was trading nearly 1.6 percent higher at around noon Wednesday led by good buying support in banking, auto and metal stocks after five days of slump.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened with decent gains at 15,487.75 points, was ruling at 15,414.71 points, up 1.58 percent or 239.63 points higher than its previous close at 15,175.08 points.

The index is ruling higher for the first time in the last six trading sessions. The benchmark Sensex had lost 827 points in the previous five trading sessions.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange was ruling 1.44 percent higher at 4,609.50 points.

Broader markets as well as all the sectoral indices were in the positive. Banking index of the BSE was ruling 2.68 percent higher.

ICICI Bank climbed 5.33 percent. HDFC was ruling 2.7 percent higher while HDFC Bank was trading with a gain of 2.27 percent.

There was a good buying support in auto stocks also. Tata Motors climbed 3.17 percent. Mahindra and Mahindra was ruling 2.62 percent higher while Maruti Suzuki was trading with a gain of 2.54 percent.

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