Sensex up more than 100 pts; Steel, automobile stocks rally

Sensex up more than 100 pts; Steel, automobile stocks rally

Last Updated: Tue, Apr 09, 2013 07:18 hrs
Stockbroker uses his terminal to trade at a brokerage firm in Mumbai

The Indian stock market, which was somewhat listless earlier in the day, has moved up smartly now thanks to some strong buying in capital goods, metal, bank and automobile stocks.

Realty stocks, which retreated after a firm start, are edging higher now. Power, PSU and healthcare stocks are also trading firm. FMCG and oil stocks are mostly trading flat. Information technology stocks are off their lows.

The Sensex is now up 105.21 points or 0.57% at 18,542.99, off the day's high of 18,565.56. The Nifty is up 53.10 points or 0.96% at 5596.05, slightly off the day's high of 5603.05.

Jindal Steel & Power is up 3.2%. Tata Steel (2.2%), Sterlite Industries (2%) and Hindalco (1.4%) are also trading sharply higher. Coal India is up by a little over 1%.

Among automobile stocks, Tata Motors is up 2.8%, Maruti Suzuki and Hero Motocorp are trading higher by around 1.6% and Mahindra & Mahindra is up with a gain of 1.3%.

ICICI Bank is up nearly 3%. State Bank of India is trading 1.5% up, while HDFC Bank, the other banking sector heavyweight in the Sensex, is up witth a modest gain.

Larsen & Toubro, HDFC, Tata Consultancy Services, NTPC and Cipla are up 1% - 2.8%. Sun Pharmaceutical Industries, Tata Power and BHEL are also trading firm.

Wipro is down nearly 11% following the company demerging its non-IT businesses. Bharti Airtel, Dr Reddy's Laboratories, Hindustan Unilever, Infosys and ONGC are down 0.4% - 1.2%, while Reliance Industries is down marginally.

Opto Circuits is up nearly 6.5%. Adani Power, IDFC, IFCI, United Breweries, Unitech, Ambuja Cements, Cairn India, Axis Bank, Adani Enterprises and Voltas are up 3% - 4%.

Havells India, Uco Bank, Jaiprakash Associates, Syndicate Bank, Century Textiles, Adani Ports, Glenmark Pharmaceuticals, JSW Energy, Jet Air India, ACC, Yes Bank, Reliance Capital, Hindustan Petroleum Corporation and Bharat Forge are also up with strong gains.

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