Sensex back in green; IT, auto stocks rally

Mumbai, Feb 13 (IANS) A benchmark index for Indian equities market closed Wednesday's trade 47.04 points up as information technology (IT) and automobile stocks gained.

The rebound in the markets came as buyers' sentiments improved on hopes of further easing of monetary policy following disappointing government data which showed that the industrial output contracted by 0.6 percent in December 2012.

The 30-scrip Sensex, which opened at 19,601.69 points, closed at 19,608.08 points, up 47.04 points or 0.24 percent from its previous close at 19,561.04 points.

The Sensex touched an intra-day high of 19,723.01 points and a low of 19,574.15 points. The midcap index was down 18.81 points, while the smallcap index was lower by 31.24 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was trading higher by 10.45 points or 0.18 percent at 5,932.95 points.

There was healthy buying in IT, technology, entertainment and media (TECk) and automobile stocks. However, metal, capital goods and fast moving consumer goods (FMCG) scrips plummeted.

The IT index was up 82.62 points, followed by the TECk index, up 36.80 points, and the automobile index, up 28.68 points.

Other major indices like the metal index was down 125.15 points. And so were the capital goods index, down 90.20 points and FMCG, lower by 41.62 points.

The major Sensex gainers were Tata Motors, up 2.11 percent at Rs.304.60; HDFC, up 1.79 percent at Rs.814.55; Mahindra and Mahindra, up 1.59 percent at Rs.896.65, Tata Consultation Services (TCS), up 1.58 percent at Rs.1,430.55; and Infosys, up 1.26 percent at Rs.2,789.30.

Seventeen of the 30 Sensex scrips declined. These included Sterlite Inds, down 2.79 percent at Rs.99.15; Bajaj Auto, down 2.75 percent at Rs.2,018.20; Tata Power, down 2.68 percent at Rs.94.25; Tata Steel, down 2.18 percent at Rs.376.15; and Gail India, down 1.96 percent at Rs.327.90.

Among other Asian markets, Japan's Nikkei closed 1.04 percent lower, while Hong Kong's Hang Seng ended 0.16 percent up. China's Shanghai Composite Index closed 0.57 percent up.

In Europe, Britain's FTSE 100 was down 0.09 percent, while the German DAX was trading 0.40 percent higher. The French CAC 40 was down 0.06 percent.

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