Sensex rises 154 points; auto, tech stocks climbOctober 24th, 2011 - 7:02 pm ICT by IANS
Mumbai, Oct 24 (IANS) The Indian equities markets benchmark indices advanced nearly one percent Monday led by good buying support in auto, technology and oil and gas stocks ahead of the Reserve Bank of India’s second quarter policy review.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,011.06 points, ended the day at 16,939.28 points, up 0.92 percent or 153.64 points from its previous close at 16,785.64 points.
The Sensex touched a high of 17,104.88 points and low of 16,898.60 points in the intra-day trade.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.96 percent or 48.40 points higher at 5,098.35 points.
There was good buying support in auto, technology and oil and gas stocks. Auto and IT indices of the BSE gained nearly two percent.
At the broader markets, the BSE midcap index fell 0.33 percent at 6,091.78 points and the smallcap index closed 0.28 percent down at 6,805.68 points.
Tata Motors surged 4.44 percent at Rs.185.85. ONGC climbed 4.09 percent at Rs.276.25.
Hindustan Unilever, up 3.14 percent higher at Rs.336.35; Bajaj Auto, up 3.12 percent at Rs.1,691.70; TCS, up 2.97 percent at Rs.1,079.35; Infosys, up 1.65 percent at Rs.2,767.70 and ITC, up 1.52 percent at Rs.206.75 were among the other major Sensex gainers.
However, there was some selling pressure in banking stocks. State Bank of India, the country’s largest lender, slumped 2.11 percent at Rs.1,907.55.
Other Sensex losers were: L&T;, down 3.11 percent at Rs.1,294.40; Coal India, down 1.28 percent at Rs.324.65; Sun Pharma, down 0.99 percent at Rs.481.85 and HDFC, down 0.45 percent at Rs.484.10.
The Reserve Bank of India (RBI) in its second quarter monetary policy review Tuesday widely expected to hike key policy rates by 25 basis points to curb inflation. The RBI has hiked key policy rates 12 times since March 2010.
Other Asian markets also advanced. Japan’s Nikkei rose 1.90 percent at 8,843.98 points. Hong Kong’s Hang Seng index rallied 4.14 percent at 18,771.80 points and China’s Shanghai Composite index rose 2.29 percent at 2,370.33 points.
European markets were, however, trading weak. Around noon, Britain’s FTSE 100 was ruling 0.14 percent higher at 5,496.35 points. French CAC 40 was 0.26 percent down at 3,162.95 points and German DAX was 0.19 percent down at 5,959.54 points.
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