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Business

Sensex up around 250 points; auto stocks rise

Sensex up around 250 points; auto stocks rise
 
Mumbai, May 11  A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), made healthy gains during the early-morning trade session on Monday. It was higher by nearly 250 points or 1 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains during the early-morning session. It was higher by 77.85 points or 0.95 percent at 8,269.35 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,249.42 points, was trading at 27,351.49 points (at 9.45 a.m.) in the early morning session, up 246.10 points or 0.91 percent from the previous day's close at 27,105.39 points.

The Sensex had touched a high of 27,357.02 points and a low of 27,231.28 points in the intra-day trade so far.

According to Angel Broking, the Indian markets opened on a positive note tracking SGX Nifty and some of its Asian peers.

The brokerage firm said that the Indian market had surged more than 1.5 percent during the last session, marking its best daily gain in four months after the government set up a panel to suggest ways to resolve a tax dispute with foreign investors.

In Monday's trade, healthy buying was observed in automobile, banking, healthcare, metals and capital goods sectors.

However, stocks of consumer durable and fast moving consumer goods (FMCG) came under heavy selling pressure.

The S&P BSE automobile index gained by 265.20 points, followed by bank index which rose by 193.34 points, healthcare index increased by 187.38 points, metal index was higher by 158.14 points and capital goods index was up by 140.27 points.

However, the S&P BSE consumer durables index was lower by 22.10 points and FMCG index was down by 14.43 points.