Sensex rises 98 points; Tata Steel, Hindalco rally

Mumbai, May 6 (IANS) A benchmark index of the Indian equities markets rose 98 points Monday, the highest closing level in almost three months, led by good buying support in metal, IT and technology stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the negative at 19,571.66 points, ended the day at 19,673.64 points, up 0.50 percent or 98 points from its previous day close at 19,575.64 points.

The Sensex touched a high of 19,694.29 points and low of 19,554.31 points intra-day.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) advanced 0.46 percent or 27.05 points at 5,971.05 points.

There was good buying support in metal, IT, consumer durables and auto stocks.

The BSE metal index jumped 1.98 percent. IT index advanced 1.88 percent. Consumer durables index rose 1.51 percent and auto index climbed 1.39 percent.

Tata Steel surged 3.58 percent at Rs.322.35. Among other major Sensex gainers were Hindalco Inds, up 3.52 percent at Rs.101.50; TCS, up 3.25 percent at Rs.1464.85; RIL, up 2.53 percent at Rs.821.50; Hero MotoCorp, up 2.32 percent at Rs.1647.25; and Jindal Steel, up 2.26 percent at Rs.325.75.

Only nine of the 30 Sensex scrips closed in the negative. The major Sensex losers were: ONGC, down 1.67 percent at Rs.318.70; NTPC, down 1.48 percent at Rs.156.90; ITC, down 1.35 percent at Rs.326.30; HDFC Bank, down 0.91 percent at Rs.674.85; and Coal India, down 0.79 percent at Rs.315.45.

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