Sensex up 57pts on reform hopes

Hindustan Copper surged by 11.33 per cent to Rs 266.30 after the government announced plans to divest 4 per cent equity in the company.

Asian stocks ended higher as a preliminary survey showed China's manufacturing may grow this month. Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, Taiwan and South Korea rose in the range of 0.82 per cent to 1.56 per

cent, while China's Shanghai Composite fell 0.72 per cent.

Overall, 16 out of 30 Sensex-based scrips closed in the green while others finished in the red.

Among sectoral indices, the BSE-Consumer Goods rose by 1.07 per cent and BSE-IT by 0.85 per cent while BSE-Oil&Gas eased by 0.49 per cent.

"Renewed buying was seen in select banking stocks like HDFC bank and SBIN on hopes of Banking Bill being passed in the current Parliament session," Nidhi Sarswat, Sr Research Analyst, Bonanza Portfolio, said.

"The no confidence motion, as expected, has been rejected. LIC is allowed to raise stake to 30 per cent in companies from 10 per cent which will help address the key

concern of fiscal deficit. This being the single largest factor along with indirect revenue targets exceeding, seems good for the market," Kishor P Ostwal, CMD, CNI Research said.

Engineering major L&T moved up by 1.72 per cent, Infosys by 1.55 per cent, M&M by 1.21 per cent and Sterlite Ind 1.09 per cent. Wipro gained 1.08 per cent, NTPC 1.05 per cent and HDFC

... contd.