Mumbai -- Boosted with strong overseas markets and decline in international crude oil prices, the market was on rampage right from the beginning in the morning.
The market started with positive bias and continued its upward trend with benchmark Sensex adding over 200 points today. Index heavy weights like Infosys, SBI, HDFC Bank, SBI, Dr Reddy’s Labs and Bharti Airtel were the major gainers among the 30 Sensex scrips. The benchmark Sensex added 233 points to close at 11894 and NSE Nifty gained by 64 points to close at 3454.
Crude oil lost 2.8%, dipping under $64 a barrel in New York after the International Energy Agency (IEA) cut its global consumption estimates. US light crude oil for October delivery fell $1.85 to settle at $63.76 a barrel. It has now fallen for seven consecutive days.
Technology stocks ended with smart gains. Satyam Computer added 2.2% to Rs. 801, Infosys was up 2.3% to Rs. 1813 as the company and Schlumberger came together forming a global alliance, Wipro gained 2.2% to Rs. 515 and Polaris advanced 0.6% to Rs. 117.
Oil & Gas stocks bounced up on back of softening of crude oil prices. BPCL added 1.2% to Rs. 384 and IOC advanced 4% to Rs. 537. ONGC gained 0.6% to Rs. 1157 after the company inked a deal with Brazil's Petroleo Brasileiro SA, to cooperate on oil and gas exploration, production and sales. Reliance Industries gained 0.6% to Rs. 1113.
Auto stocks were in high gear led by gains in Maruti, the scrip added 3.7% to Rs. 957, TVS Motors surged 3.3% to Rs. 115, Tata Motors added 2.1% to Rs. 872 and Bajaj Auto advanced 2.2% to Rs. 2770.
Bharti Airtel surged 4.9% to Rs. 444 following reports, that the company has got radio spectrum to test 3G Services. The scrip touched a high of Rs. 445 and a low of Rs. 425 and recorded volumes of over 1500,000 shares on NSE.
