Sensex gains another 148 points
Auto stocks were the mainstay of the markets today as the BSE Sensex bounced back from early lows to end at a nearly six-week high of 15,378.96 in the midst of strong Asian cues.business Updated: Jul 24, 2009 19:43 IST
Auto stocks were the mainstay of the markets on Friday as the BSE Sensex bounced back from early lows to end at a nearly six-week high of 15,378.96 in the midst of strong Asian cues.
India's largest private sector firm Reliance Industries, however, fell by 1.20 per cent ahead of the announcement of its first-quarter financial results later in the day. After the markets closed, RIL announced a net profit fall of 11.36 per cent.
The Bombay Stock Exchange 30-share barometer advanced by 147.92 points or 0.97 per cent over its previous close.
The market was largely influenced by world markets and resumed firm on the back of encouraging Asian cues but later touched the intra-day low of 15,168.52 after European markets opened weak at around noon.
Among the 30 Sensex stocks, 23 shares led by Maruti Suzuki and Tata Motors ended higher.
The auto sector index gained the most, by 5.14 per cent, to 5,545.30 after the biggest carmaker Maruti Suzuki surged for a second day on expectations of higher exports and demand for its new hatchbacks. The maker of half the cars sold in the country rose 6.35 per cent to Rs 1,377.85, the highest since its listing in July 2003.
Tata Motors stole the limelight, rising by 9.72 per cent following a rally in the US markets last night.