Auto stocks drive Sensex up 111 points

| Updated on: Apr 19, 2012

The BSE benchmark Sensex gained for the fourth straight day today, up 111 points, led by the auto sector amid a firm trend in global markets.

Sensex, which had gained nearly 300 points in the last three trading sessions, advanced further by 111.32 points or 0.64 per cent to 17,503.71.

The NSE index Nifty rose 32.40 points or 0.61 per cent to 5,332.40.

Brokers said there was sustained buying in interest-sensitive stocks after the Reserve Bank of India cut the lending rates. The move has led to interest rate cuts by banks such as PNB and IDBI Bank.

They also said that higher opening in the European markets amid easing worries over the Euro zone debt crisis further supported the uptrend.

Besides, investors picked up stocks ahead of the results to be announced by market heavyweight Reliance Industries.

The auto sector index gained 2.05 per cent to 10,744.73 as the sector remained in demand.

Infosys, which had lost about 16 per cent in the past couple of sessions after weak revenue outlook for this fiscal, gained 1.31 per cent on value buying.

Tata Motors, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Coal India, HDFC Bank, M&M, TCS were other major gainers.

Of the 30 Sensex stocks, 21 gained, 8 declined while DLF ended unchanged.

Published on April 19, 2012

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