Sensex up over 150 points as buying gains momentum; Automobile stocks recover

Last Updated: Thu, May 02, 2013 05:39 hrs

The market, which moved up smartly after a slightly cautious and listless start, has gained further ground in positive territory now thanks to sustained buying in several blue chip stocks.

Information technology stocks are in demand this morning. Realty, bank and capital goods stocks too have gained signficant ground in positive territory. Select consumer durables, power and PSU stocks are trading firm.

After a weak start, automobile stocks have edged higher, with investors tracking April sales numbers. Select healthcare and oil stocks are off their early lows. FMCG stocks are a bit subdued after recent strong gains.

The Sensex, which advanced to 19,667.87, is now up 155.33 points or 0.8% at 19,659.51. The Nifty index of the National Stock Exchange is up 46.40 points or 0.8% at 5976.60.

Mahindra & Mahindra has rallied to Rs 948, gaining 2.7%. Hero Motocorp is up 1.2% at Rs 1665 and Maruti Suzuki is up with a gain of 0.7% at Rs 1680. Bajaj Auto is up marginally at Rs 1886.40. Bajaj Auto has reporting a 10% drop in vehicles sales in April 2013, as compared to its sales in April 2012. Tata Motors is also trading weak.

Tata Consultancy Services is trading 2.7% up. Infosys is up 1.6% and Wipro is trading higher by about 1.3%. HDFC is up nearly 2%. State Bank of India, Jindal Steel & Power, Sun Pharmaceutical Industries, Larsen & Toubro, ICICI Bank, HDFC Bank and NTPC are trading higher by 1% - 1.8%. ONGC, Tata Steel and Cipla are also trading firm.

Bharti Airtel, which declined to around Rs 303 after the company reported lower than expected earnings for the January - March quarter, has recovered well and is currently trading at Rs 320, netting a modest gain of about half a percent.

GAIL India is down 1.6% at Rs 345.80. Hindustan Unilever, which saw some hefty gains in recent sessions, is down more than a percent this morning on profit taking. Coal India, Dr Reddy's Laboratories, Tata Power, Hindalco and BHEL are down 0.2% - 0.8%.

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