Mostly Cloudy
24°CMon :Scattered Thunderstorms. High: 32 Low: 21

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

Hyundai

Hyundai deals down 8% to 48,111 units in August

September-01-2014
Hyundai Motor India Ltd (HMIL) today reported 8% decrease altogether deals at 48,111 units in August 2014. The organization had sold 52,319
relaiancecapital1--621x414

Reliance Group to request new banking license permit with Nippon

September-01-2014
Mumbai: Reliance Capital Ltd, some piece of the Anil Ambani-controlled Reliance Group, said on Monday it will request another keeping money permit
1365433816-0319

United Bank of India announces Kingfisher Airlines wilful defaulter

September-01-2014
The United Bank of India on Monday announced the grounded Kingfisher Airlines and executive Vijay Mallya an alleged ‘wilful defaulter’, making it
264144-rajnath

Rajnath Singh has no arrangements to meet Pak partner at SAARC: Home Ministry

September-01-2014
The Home Ministry today rejected reports that Rajnath Singh has arrangements to meet his Pakistani partner on the sidelines of the SAARC
36280888.cms

Nifty Hikes to 8,000 for First Time on GDP Boost

September-01-2014
BSE Sensex and Nifty surged to record highs after monetary development in the first quarter hit a nine-quarter high. Information discharged on
modi.222jpg

Japan invites Modi, talks underway to sign safeguard, exchange settlements

September-01-2014
Tokyo: Prime Minister Narendra Modi was agreed an authority welcome by the legislature of Japan on Monday. Joined by Japan PM Shinzo