Sensex up 58 pts; auto, capital goods stocks rise

Optimism in the market continues, with auto and other select old economy stocks reporting strong gains on the back of sustained buying support. The Sensex is now up 58 points at 7,788.

The market breadth is extremely buoyant. While 1,863 scrips have advanced, 448 declined and 42 have remained unchanged so far on the BSE.

Tata Motors has shot up 4% (Rs 20) to Rs 501. Bajaj has moved up 1.51% (Rs 21) to Rs 1,433, and Hero Honda has added 1.77% (Rs 11) to Rs 637. Maruti has gained 1.73% (Rs 8) to Rs 488.

Hindalco at Rs 1,382 (up Rs 16 or 1.19%), HDFC at Rs 920 (up Rs 10), L&T at Rs 1,337 (up Rs 17 or 1.28%) and Tisco at Rs 407 (up Rs 8 or 2.11%) have registered strong gains.

Reliance is up with steady gains at Rs 723 - up Rs 4.

HDFC Bank (up Rs 4 to Rs 664) and ICICI Bank (up Rs 7 or 1.38% to Rs 500) have shed some gains due to profit-taking. SBI is up a per cent (Rs 7) at Rs 815.

TCS (up Rs 10 to Rs 1,323) and Satyam (up Rs 6 to Rs 530) are unchanged with steady gains. Infosys, after a lacklustre opening, is still weak at Rs 2,303 - down Rs 12.

Capital goods stocks have notched up significant gains. HMT has soared 23.75% to Rs 87. Bharat Bijlee, Asian Electronics and Gammon India are up in a range of 4-5%.