Sensex up 107 pts led by bluechips, auto stocks

Overcoming initial weakness, the Bombay Stock Exchange benchmark Sensex gained 107 points today as funds bought bluechips and auto stocks on good monthly sales amid firm trend in the European markets.

The Sensex, which had gained 330 points yesterday, gained another 107.03 points, or 0.62 per cent to close at 17,300.58, after touching the day's low of 17,061.55.
The NSE 50-scrip index Nifty rose 36.45 points, or 0.70 per cent to 5,235.70. It had dipped to 5,159 earlier.

The gains were led by the Sensex heavyweight Reliance Industries, which moved up 1.82 per cent as it kicked off its buyback programme. Besides, markets were up on buying in select auto majors following rise in monthly sales figures.

Market sentiment got a boost on higher openings in European stocks as well. The metals sector gained the most - up 2.97 per cent at 11,839.91, followed by capital goods index that gained 2.34 per cent to reach 10,095.89.

The auto sector index rose 2.02 per cent to 9,428.70 as Hero MotoCorp surged 3.45 pc, Maruti Suzuki - 2.21 pc, Tata Motors - 2.03 pc and Ashok Leyland - 4.20 pc. Jindal Steel, L&T, Sterlite, Tata Steel, Tata Power, SBI, BHEL, Hindalco and HUL were other major gainers.