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BSE Sensex up 24 points ahead of earnings season, Tata Motors shares soar

Oct 10 2013, 18:51 IST
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BSE Sensex rose 0.27 percent, marking its highest close since Sept 19. Reuters BSE Sensex rose 0.27 percent, marking its highest close since Sept 19. Reuters
SummaryBSE Sensex rose marginally on buying in auto, IT, healthcare stocks ahead of earnings season.

The BSE Sensex rose for the third straight session today, adding 24 points after choppy trade on buying in auto, IT and healthcare stocks ahead of the earnings season and Tata Motors shares soared too.

The 30-share S&P BSE Sensex, which gained 354 points in the previous two sessions, traded between 20,135.91 and 20,323.77 before ending at 20,272.91, advancing 23.65 points, or 0.12 per cent.

The 50-share CNX Nifty on the NSE Nifty rose 13.5 points, or 0.22 per cent, to 6,020.95. The SX40 on the MCX Stock Exchange added 23.42 points to 12,079.15.

Brokers said investors turned cautious and parked their funds in less risky and fundamentally strong stocks ahead of the second-quarter earnings season, starting tomorrow with Infosys results.

Sensex October 10

They said a firm trend in the Asian region and a higher opening in Europe amid signs US lawmakers will agree on a compromise deal to avoid an unprecedented default, fuelled the uptrend.

Among the Sensex shares, 14 closed with gains. Infosys, the second most valued software company, rose 0.53 per cent to Rs 3,124.15, completing a four-day rising streak.

Other gainers included Maruti Suzuki, Mahindra and Mahindra, NTPC, State Bank of India, Tata Motors, Tata Steel, Wipro and HDFC Ltd.

The auto sector index gained the most, rising 1.94 per cent, after some banks reduced lending rates for car and scooter loans. The metal sector added 0.49 per cent.

The IT sector index rose 0.44 per cent and the healthcare index 0.36 per cent.

Indian shares close near 3-week high ahead of Infosys results

(Reuters) - Indian shares rose on Thursday to their highest close in nearly three weeks, as Tata Motors surged to a record high on unit Jaguar Land Rover's sales while Infosys also edged up ahead of its July-September results.

While earnings would be the main focus, India's economic data namely industrial output on Friday and inflation prices on Monday are keenly awaited to find more bright spots in the economy after September trade data came in better than expected.

India likely saw little respite from high inflation levels in September as prices of food and imports continued to climb despite a relief rally in

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