Sensex gains 44 pts, Auto rise continues

The Sensex has scaled up in mid-noon trades following strong rally in auto pivotals and decent gains in other select old and new economy stocks. It is now up 44 points at 6,447. The Nifty has moved up 15 points to 2,042.

ITC has gained 2.29% (Rs 29) to Rs 1,294. Reliance has inched up by 1.30% (Rs 6) to Rs 487. HLL (down Rs 4 or 2.44% to Rs 144) is still subdued.

Hero Honda has vaulted 10% (Rs 52) to Rs 574. While Bajaj has soared 3.87% (Rs 41) to Rs 1,101, Tata Motors has added nearly 2% (Rs 10) to Rs 503. Maruti is up 1.56% (Rs 7) at Rs 461.

Bharti is trading with a steady gain of 1.64% (Rs 3) at Rs 198. L&T is down a per cent (Rs 6) at Rs 977.

SBI and HDFC Bank are still up a per cent each at Rs 595 (up Rs 4) and Rs 496 (up Rs 3), respectively. ICICI Bank is marginally up at Rs 364.

Select auto stocks have gained ground with the BSE Auto index currently gaining 3.18% (up 86 pts) to 2,809. Munjal Auto has notched up 8.28% gains (Rs 9) to Rs 121. While LML has gained 8.10% to Rs 44, Hind Motor has added 5.59% to Rs 18. M&M and TVS Motors are up nearly 4% each at Rs 545 and Rs 85, respectively.

Metal stocks also have logged gains. Madras Alluminium has jumped 6.50% (Rs 13) to Rs 217. While Hind Zinc has gained 5% (Rs 7) to Rs 136, Jisco has added 4.80% (Rs 14) to Rs 305. Mukand Iron and Monne Ispat are up 2% each at Rs 47 and Rs 168, respectively.