Sensex up 166 points; auto, bank, IT stocks soar

Mumbai, Aug 7 (IANS) A benchmark index of Indian equities markets was trading 166 points up around 1.30 p.m. Tuesday, on good buying in auto, bank, information technology (IT) and metals stocks.

The markets were also buoyed by the reassurance given by Finance Minister P. Chidambaram Monday that the government will do everything to maintain the investment attractiveness of the country. There were also strong global cues after reports of a surge in US hiring.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,456.37 points, was ruling at 17,579.18 points, 0.95 percent or 166.22 points up from its previous day's close at 17,412.96 points.

The Sensex touched a high of 17,584.54 points and a low of 17,417.92 points. BSE midcap was up 33.83 points and small cap was up 33.26 points.

The BSE auto index was up 143.64 points, followed by bank index, up 128.27 points, IT, up 79.14 points and metal index up 78.31 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was ruling 1.01 percent or 53.45 points up at 5,336.00 points.

The major Sensex gainers were Tata Motors, up 4.07 percent at Rs.237.95; Bajaj Auto, up 2.57 percent at Rs.1,675; Jindal Steel, up 2.05 percent at Rs.408.00; State Bank of India (SBI), up 2.02 percent at Rs.2,059.00 and TCS, up 1.88 percent at Rs.1,252.55.

Only one of the 30-scrip sensitive Sensex was in the red -- Hero MotoCorp, which was down 1.33 percent at Rs.1,953.40.

Among other Asian markets, Japan's Nikkei was up 0.88 percent while Shanghai's composite index was 0.13 percent higher. Hong Kong's Hang Seng was up 0.26 percent.

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