Sensex gains 100 pts; ICICI Bank, Tata Motors, L&T lead

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.

The BSE benchmark was up 101 points at 17,492.85 and the NSE benchmark went up 30.10 points to 5,305.25. The broader markets gained 0.7%.

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%.