Sensex Gains Momentum; M&M, Tata Motors Flare Up

Sensex Gains Momentum; M&M, Tata Motors Flare UpOn prospects of more measures from the government to stimulate the ailing real estate and auto sectors, stocks from these segments have rallied sharply in today’s session.

The key realty stocks gained the most followed by auto and power stocks.

Among the sectoral indices, BSE Realty surged 8.59%, Auto zoomed 3.05% and Power arose 2.11%, while IT lost 0.89%.

The Sensex, which had slipped into the negative around noon after an earlier sharp upmove, gained momentum on account of buying interest across index heavyweights.

The 30-share index, BSE Sensex, today, opened with a loss of 75.10 points, at 10,001.33.

At 02.10 p.m., the 30-share index Sensex gained 57.27 points at 10,133.70 after hittting a high of 10,185.81 and a low of 9,987.42.

Meanwhile the broad based Nifty stood at 3,087.80, up 27.05 points, after touching a high of 3,097.70 and a low of 3,036.30.

Overall market breadth was positive as it saw 1,429 advancements as against 934 declinations.

Major gainers in the 30-share index were Mahindra & Mahindra (8.88%), Tata Motors (6.85%), DLF (6.52%), Tata Power Company (4.00%), Sterlite Industries (India) (3.97%), and Jaiprakash Associates (3.45%).

The major losers in the Sensex were Satyam Computer Services (4.34%), Oil & Natural Gas Corporation (3.18%), Housing Development Finance Corporation (1.64%), Hindalco Industries (1.10%), ACC (1.01%), and Infosys Technologies (0.98%).

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