Friday, March 29, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Current account gap data, auto sales lift Sensex by 137 pts

Current account gap data, auto sales lift Sensex by 137 pts

Mumbai: The BSE benchmark Sensex today rebounded from 3-week lows to end over 137 points up as investors cheered the lower-than-expected June quarter CAD number and encouraging September sales for automobile firms. The stock markets

PTI PTI Updated on: October 01, 2013 16:36 IST
current account gap data auto sales lift sensex by 137 pts
current account gap data auto sales lift sensex by 137 pts

Mumbai: The BSE benchmark Sensex today rebounded from 3-week lows to end over 137 points up as investors cheered the lower-than-expected June quarter CAD number and encouraging September sales for automobile firms.





The stock markets were also supported by a strengthening rupee that gained 28 paise to trade at 62.34 versus dollar, which was under pressure after the US government shutdown - for the first time in nearly 18 years - as political deadlock over ‘Obamacare' led to a budget impasse.

The 30-share Sensex, which fell by over 100 points in early trade, reversed losses to end at 19,517.15, a gain of 137.38 points or 0.71 per cent. The rise comes after the benchmark lost 514 points in the previous two sessions.

Today's Sensex rise is the best daily gain since


September 19 when it soared by 684.48 points or 3.43 per cent.

On similar lines, the broad-based National Stock Exchange index Nifty shuttled between 5,786.45 and 5,700.95, before ending 44.70 points higher, or 0.78 per cent at 5,780.05.  

“CAD widened by USD 21.8 billion in Q1FY14, below our expectation of USD 25 billion,” said Karvy Analyst Kruti Shah.

The upsurge in shares was mostly led by the recent losers like stocks of banking, realty, capital goods and auto stocks on heavy purchased at current attractive levels, brokers said.

They also said a higher trend in the Asian region and good opening in Europe, further influenced the sentiment.

The market also took a positive view of the easing retail inflation that eased marginally to 10.75 per cent in August compared to 10.85 per cent in the previous month.

Among Sensex constituents, 16 stock gained led by SBI, ICICI Bank, HDFC Bank, HDFC Ltd., Maruti Suzuki, M&M, Tata Motors, Bajaj Auto, BHEL, L&T and Bharti Airtel.

September sales of firms like Maruti, Hero MotoCorp and TVS rose in 12-16 per cent range while that of M&M slipped.

Sectorally, the BSE Realty sector index gained the most by rising 2.69 per cent, followed by BSE Banking index (2.67 per cent), BSE Capital Goods index (1.53 per cent) and BSE Auto index (0.90 per cent).
Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement