 "Sensex ends 573 points higher led by financials")
Benchmark share indices ended near their day's high led by financials and value buying at lower levels in Tata Motors after the stock witnessed sharp corrections in the past few weeks.
The 30-share Sensex provisionally ended 577 points higher at 26,798 and the 50-share Nifty ended up 171 points at 8,125.
HDFC, HDFC Bank and ICICI Bank were among the top Sensex gainers.
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(Updated at 2:50PM)
extended gains in late noon trades to trade near their day's high led by financials and value buying at lower levels in Tata Motors after the stock witnessed sharp corrections in the past few weeks.
At 2:50 PM, the 30-share Sensex was up 552 points at 26,773 and the 50-share Nifty was up 163 points at 8,114.
In the broader market, the BSE MidCap index and SmallCap index were up 1.5% each. Market breadth was strong with 1,885 gainers and 746 losers on the BSE.
The Indian rupee was trading higher by 23 paise at 65.28 to the US dollar on dollar sales by exporters and strong gains in domestic equities.
GLOBAL MARKETS
Most Asian stocks ended higher on Monday after weak US jobs data eased worries that the US Fed would hike interest rates this year. Shares in Japan and Hong Kong gained the most with benchmarks Nikkei and Hang Seng gaining over 1.5% each.
European shares also edged higher rising nearly 2% on hopes that the US Fed won't hike interest rates following weak US jobs data. CAC-40, DAX and FTSE were up over 1.8% each.
SECTORS & STOCKS
All sectoral indices were trading positive. BSE Capital Goods index was the top gainer up 3% along with Bankex, Power, Auto and Power indices among others.
Financials were the top gainers led by mortgage lender HDFC up 4.6% along with HDFC Bank, ICICI Bank, SBI and Axis Bank.
ICICI Bank was up 3.8%. The bank last week reduced its base rate by 35 basis points to 9.35%, which will be effective from today.
Shares of Adani Ports and Special Economic Zone (SEZ) and Larsen & Toubro (L&T) were trading higher by 3-4% each on the bourses after both companies announced that they have inked a pact to oversee operations of Kattupalli Port in Tamil Nadu.
Tata Motors surged 6%. Reports suggest that Peugeot in talks with the company to make cars in India. Meanwhile, passenger and commercial vehicles (including exports) were lower by 2% at 45,215 units, sold in September 2015, over 46,154 vehicles sold in September 2014. n commercial vehicles, medium and heavy commercial vehicles (M&HCV) sales grew by 52% to 15,915 units in September 2015 over September 2014.
Bajaj Auto was up 2.9%. The company today reported 3.76% decline in total sales in September at 3,84,400 units as against 3,99,450 units in the same month last year.
However, Maruti Suzuki India dipped nearly 4% after the global investment bank Jefferies downgraded the stock to "underperform" from "buy" and cut its target price to Rs 3,952.
Hero MotoCorp was up 3.4%. LIC increased its stake in Hero MotoCorp to 7.16% at September end as compared to 4.77% for the quarter ended June.
NTPC was up 3.4%. The company will consider selling electricity to Bangladesh from its upcoming 750 MW plant at Kokrajhar in Assam once the neighbouring country finalises plans to buy power from Palatana project in Tripura.
IT major Infosys has surpassed private sector lender HDFC Bank, becoming the third most valued Indian firm in terms of market valuation, with TCS leading the top 10 companies chart, followed by RIL. Infosys is trading flat.