Sensex closes on 372 pts; Tata Motors up over 12pc

Posted By: Staff
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Mumbai, Mar 2: After opening on a cheerful post budget, Nifty closed above the psychological 500 mark, while Sensex was up over 350 points.

When the market closed Nifty was at 5026, up 104 points and Sensex was at 16801, up 372 points.

With the exception of government oil & gas, select realty and capital goods companies, buying was witnessed across all sectors.

The leading sectors were Auto, bank and metal. The respective indices shot up 2.5 to 4.5pc.

Among the largecaps, Tata Motors was the top gainer with over 12pc gain post good monthly sales numbers.

The company registered a total sale of 69,427 vehicles in month of Feb 2010, which was 58pc more of 43,811 vehicles sold in Feb 2009.

Among the auto stocks, Maruti was up 2pc as its February sales surged 1pc YoY. M&M gained 4.9pc, as its February sales shot up 39.5pc. Hero Honda gained just 0.95pc.

Among the metal stocks, the secong top gainer was Tata Steel as it rallied over 6pc on short covering. Sterlite Industries, Jindal Steel, Hindalco and SAIL shot up 3 to 4pc.

The BSE Bankex was the third top gainer among the sectoral indices, with 2.5pc gain. ICICI Bank, HDFC Bank, HDFC, PNB and Axis Bank moved up 2 to 2.9pc. SBI rose just 0.63pc.

4:15 PM

Nifty touches 5000 mark, RIL gains

Nifty touched 5000 mark, while Sensex supported by capital goods, auto, telecom, metal, banking & financial, cement, pharma and select technology stocks gained nearly 300 points around 16700 level.

Reliance and ITC were among the gainers.

At 1:28 PM, Sensex was trading at 16722, up 292 points and the Nifty was at 5003, up 81 points.

Market registered a total turnover of Rs 53,000 crore, including Rs 41,000 crore from the NSE F&O segment.

1:48 PM

Sensex up 217 pts, Tata Motors gains over 8pc

Post budget cheer helped Sensex to trade higher with nearly 200 points gains. Tata Motors became the top gainer with a surged of over 8 pc.

The market was supported by Banking & financial, auto, metal, capital goods, select telecom and technology stocks along with Heavyweight Reliance Industries.

However, the gain was limited to an extent by the selling in DLF, HUL, BPCL, ONGC, ABB, TCS, Tata Power, Unitech, Ambuja Cements, Reliance Infrastructure and Sun Pharma.

At 10:09 am, Sensex was trading at 16646, up 217 points and the Nifty was at 4982, up 60 points.

Top gainers in this session were Tata Motors up 8.5pc and M&M was up 5pc. Tata Steel, Hindalco, Sterlite Industries and Axis Bank rose 3 to 3.5pc.

In the midcap space, the gainers were Usha Martin, Jain Irrigation, Piramal Health, M&M Financial and Eicher Motors with 5 to 7.5pc.

On the losing side were Sobha Developer, Sunteck Realty, Indiabulls Real, Omaxe and Den Networks which regsitered a loss of 1 to 3pc.

In the smallcap space, Surana Industries rallied 15.35pc. TRF, Nectar Life, INEOS ABS and TVS Motor shot up 6.7 to 9pc.

Global Cues:

Asian markets were mixed in trade. Kospi rose 1pc. Jakarta and Taiwan gained 0.5 to 0.6pc. Straits Times was up 0.3pc. However, Hang Seng slipped 0.8pc and Shanghai down 0.24pc. Nikkei was flat.

11:00 AM

Nifty likely to test 5000

The cheer of the budget continues to linger in the market in March and is expected to continue reaction to the global strenght for the next two days.

Nifty is expected to touch the 5000 mark and is likely experience resistence as it test the mark.

The budget brought more good news than bad news for the brokerages. However, the budget was seen as negative for the real estate, oil & gas, ITC. The budget brought cheers for the bank stocks.

The budget was nuetral for the auto sector.

Market Cues:

RIL's bid was reportedly rejected by LyondellBasell board.

NSE F&O open interest gain was Rs 8,601 crore at Rs 86,408 crore.

9:15 AM

OneIndia News

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