Sensex closes 61 points higher

Sensex advanced on Monday on the back of gains in Infosys, Tata Motors and ITC, amid a positive trend in European shares.

Published: 01st October 2012 10:52 AM  |   Last Updated: 01st October 2012 05:25 PM   |  A+A-


The Sensex on Monday advanced by 61 points on the back of gains in Infosys, Tata Motors and ITC, amid a positive trend in European shares.

The Bombay Stock Exchange benchmark index, that had gained 183 points in the previous session, rose by 61.17 points, or 0.33 per cent, to 18,823.91 driven by IT, capital goods and auto scrips.

Trading remained firm on continued buying by funds and retail investors on hopes that the government will announce more economic reforms, market experts said.

European indices that were up one per cent each on reports of positive economic data, also aided the domestic sentiment.

Brokers said investors adopted a selective approach after the 30-share barometer gained 7.7 per cent in September -- a month where the government hiked diesel price, allowed foreign direct investment in retail and aviation, among others.

The 50-share National Stock Exchange index Nifty Monday gained 15.50 points, or 0.27 per cent, to 5,718.80.

IT major Infosys rose by 2.96 per cent to Rs 2,609.10, after recording heavy losses in the previous few sessions.

Select auto stocks also notched up smart rise after posting better-than-expected September sales. Maruti Suzuki rose 0.53 per cent, Tata Motors by 2.65 per cent and TVS Motors by 4.26 per cent.

ITC, which rose 0.6 per cent, also helped Sensex rise.

Infrastructure-related stocks, mostly outside Sensex, also advanced as end of Monsoon season is likely to revive construction activity, said analysts. IVRCL shot up by 4.5 per cent, NCC by 3.6 per cent, Jaiprakash Asso. by 4.6 per cent and Reliance Infra by 2.75 per cent.

Profit-booking was seen in some private banks after strong rally witnessed in last two weeks, said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio. ICICI Bank and HDFC Bank fell in the 0.7-0.9 per cent range.

Stock markets will be closed on account of Mahatma Gandhi Jayanti on Tuesday.


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