Sensex gains 61 points; Infosys, Tata Motors lead rise
The Sensex on Monday gained 61 points to close at 18,823.91 on robust buying in Infosys, Tata Motors and ITC, amid a positive trend in European shares.business Updated: Oct 01, 2012 18:39 IST
The Sensex on Monday gained 61 points to close at 18,823.91 on robust buying in Infosys, Tata Motors and ITC, amid a positive trend in European shares.
The BSE benchmark index, which had gained 183 points in the previous session, opened marginally up and closed with a gain of 61.17 points, or 0.33%, at 18,823.91.
Trading remained firm on continued buying by funds and retail investors on hopes that the government will soon announce more economic reforms, market experts said.
European indices that were up 1% 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% 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 today gained 15.50 points, or 0.27%, to 5,718.80.
Infosys rose by 2.96%, after recording heavy losses in the last few sessions. TCS also rose 0.66%. The rupee was trading at 52.5 level a dollar.
Select auto stocks also notched up smart rise after posting better-than-expected September sales. Tata Motors gained 2.65%, TVS Motors went up by 4.26% and Maruti Suzuki inched up 0.53%.
ITC, which rose 0.6%, also helped Sensex rise.
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 0.7-0.9% range but SBI gained 1.4%.
Infrastructure-related stocks, mostly outside Sensex, including IVRCL, NCC, Jaiprakash Asso and Reliance Infra advanced as end of Monsoon season is likely to revive construction activity, said analysts.
Retail buying in midcap and smallcap shares helped the individual BSE indices outperform the Sensex.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed tomorrow, October 2, for observing "Mahatma Gandhi Jayanti".