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Jul 12, 2012, 08.23 AM IST
The 30-share BSE Sensex gained 100 points due to consistent buying interest in ICICI Bank and Tata Motors. L&T, Reliance Industries and State Bank of India too extended gains. The Indian rupee also recovered further, appreciating by 20 paise to 55.71 against the US dollar.
Auto stocks moved up further after Society of Indian Automobile Manufacturers (SIAM) report. Top commercial vehicle (CV) maker Tata Motors surged 2.5%, even after the SIAM said overall CV sales declined 9.1% year-on-year to 60,231 units in June.
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Domestic car sales increased 4.9% year-on-year to 1.89 lakh units and motorcycle sales rose by 5.9% to 10.5 lakh units during the same period. However, exports of vehicles fell by 9.2% YoY to 2.31 lakh units. M&M, Bajaj Auto, Hero Motocorp and Maruti were up 1%.
Country's largest lender State Bank of India climbed 0.9% while its rivals ICICI Bank and HDFC Bank gained 1.4% and 0.6%, respectively.
Engineering and construction major by sales Larsen & Toubro rose 1% and housing finance company HDFC was up 0.6%.
Infosys, country's second largest software services exporter and Reliance Industries, most valued stock gained over 0.5%.
However, shares of ITC, TCS, NTPC and Tata Power were down around 0.5%.
The BSE Sensex and NSE Nifty rebounded with marginal gains on Tuesday, even after a fall in Asian markets. Banks, oil & gas and technology stocks were quite supportive.
May 23 2013, 10:43
- in MARKET OUTLOOK
May 23 2013, 09:33
- in Technicals