Sensex closes 111.32 points higher, auto stocks rally

Mumbai, April 19 (IANS) A benchmark index for Indian equities markets closed 111.32 points or 0.64 percent higher Thursday with interest rates-sensitive auto stocks making considerable gains after the central bank cut key lending rates.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,432.89 points, closed the day's trade at 17,503.71 points, up 0.64 percent or 111.32 points from its previous close at 17,392.39 points.

The Indian equities markets also got positive cues from the European markets which rallied after Spain received a healthy response to its bond auction.

The 50-scrip S&P CNX Nifty of the National Stock Exchange ended the day 0.61 percent or 32.40 points higher at 5,332.40 points.

There was good buying support for interest rate-sensitive consumer durables and auto stocks.

The BSE Auto index rose by 215.34 points at 10,744.73. The fast moving consumer goods (FMCG) index went up about 45.74 points at 4,799.47.

Auto companies were some of the biggest gainers after Reserve Bank of India (RBI) Tuesday cut key lending rates which is expected to affect the sectoral sales positively.

These included Tata Motors up 9.75 points at Rs.319.35, Maruti Suzuki, up 39.45 points Rs.1,389.35, Hero MotoCorp, up 51.80 point aat Rs.2,192.75 and Mahindra & Mahindra, up 13.90 points at 706.25.

Other top gainers included Coal India, up 13.40 points at Rs.361.30 and HDFC Bank, up 17.30 points at Rs.554.20.

Top losers included BHEL, down 9.55 points at Rs.251.20, Hindalco Inds, down 2.50 points at Rs.128.15, Gail India, down 6.50 points at Rs.360.85, Wipro down 5.75 points at Rs.421.25 and Reliance Industries (RIL) down 7.60 points at Rs.741.75.

The midcap index was up 16.07 points while the smallcap index closed 18.34 points higher.

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