Sensex extends gains; Auto index surges

The Sensex has extended gains and touched a high of 14,607. The index is now up 325 points at 14,575.

The BSE Auto and IT indices have gained considerably. The former is up 3.85% at 5,007, while the latter is at 3,491 - up 3.69%.

Tata Motors has surged 5.6% to Rs 313. Bharti Airtel and ICICI Bank have rallied 5% each to Rs 825 and Rs 729, respectively.

Auto stocks, Hero Honda and Mahindra & Mahindra have gained 4.5% each at Rs 1,609 and Rs 752, respectively. DLF and Reliance Infrastructure have added around 4% each.

IT stocks, TCS, Infosys and Wipro have advanced around 4% each to Rs 436, Rs 1,859 and Rs 431, respectively.

Tata POwer, SBI, Jaiprakash Associates, HDFC, Hindalco, ITC, Tata Steel, Reliance Communications, Maruti Suzuki, Larsen & Toubro, HDFC Bank and Grasim are the other gainers today.

The market breadth is fairly positive. Out of 2,420 stocks traded, 1,638 have advanced while 708 have declined.