Mostly Cloudy
23°CFri :Mostly Sunny. High: 27 Low: 17

Sensex rises 148 points; M&M leads gain

Sensex rises 148 points; M&M leads gain

Mumbai: The BSE benchmark Sensex Monday rose 148 points on buying by funds mainly in auto, capital goods, teck and consumer durables stocks even as the RBI kept interest rates unchanged.

The Sensex gained by 147.94 points, or 0.77 percent, to 19,325.87. The index had gained 351 points in the previous session.

Similarly, the Nationa Stock Exchange index Nifty rose by 41.65 points, or 0.72 percent, to 5,850.05 led by auto stocks.

Brokers said an early monsoon raised hopes of better agri output and generate buying power in rural areas.

They said the market also bolstered on speculation the RBI will resume lowering borrowing costs after holding interest rates today.

Automakers led the gains. Tractor maker Mahindra and Mahindra surged 4.43 percent to Rs 989.40 after agreeing to buy stake in Spanish auto major CIE Automotive.

“The street was upbeat on the stock (M&M) after its auto component business made a deal with Spanish auto major CIE. The company is in the process of merging its component businesses into one entity,” said Nagji K Rita, Chairman & MD, Inventure Growth & Securities.

In 30-BSE index components, 23 stocks gained led by Reliance Industries, Infosys, Bajaj Auto, Bharti Airtel, BHEL, Hero MotoCorp, Maruti Suzuki and Larsen and Toubro.

The Auto sector index gained the most by 1.90 percent to 10,901.11 followed by capital goods index by 1.15 percent to 9,422.81. Teck index rose by 1.09 percent to 3,583.31 and consumer durable index by 1.02 percent to 6,659.68.

Barring metal, all the sectoral indices closed with gains up to 1.90 percent.

 

Top Stories

cbi-2

CBI strikes living arrangement of MLA’s and former cops regarding Saradha trick

August-29-2014
GUWAHATI: The CBI on Thursday did look operations in a few prominent areas in Guwahati regarding multi crore Saradha trick. Sources said
Pankaja-Munde

Munde’s little girl Pankaja says Don’t politicize my father’s demise

August-29-2014
Sindkhed Raja: Former Union Minister Gopinath Munde’s little girl Pankaja Munde today propelled a “Sangharsh Yatra,” asking her depreciators not to politicize
35315852.cms

Modi delights in double the security spread of his forerunner

August-29-2014
New Delhi: Prime Minister Narendra Modi delights in twofold the security spread of his forerunner Manmohan Singh regarding commandos of the tip
Malaysia-Airlines

Malaysia Airlines to cut 6,000 staff in upgrade

August-29-2014
Travelers are prepared to weigh in at a takeoff anteroom at Kuala Lumpur International Airport in Sepang, Malaysia, Friday, Aug. 29, 2014.
wwq

Bigg Boss going to be much more hotter than before : Expected Contestants List

August-28-2014
All Bigg Boss 8 fans are excitedly sitting tight for the Bigg Boss 8 Contestants? How about we go to swing in
Inside Gold Bars Refining Plant As Gold Declines

Gold, silver bounce back on global cues, regular interest

August-28-2014
Gold costs recuperated by Rs. 55 to close at Rs. 28,230 for every ten gram in the national capital on Thursday, generally