Benchmark indices close with 1% gain

Markets closed for the day retaining most the gains in heavyweights. The Sensex closed up 184 points at 18,746 and the Nifty gained 53 points to close at at 5,698.

______________

(Updated at 14:32 hrs)
Benchmark Indices hold on to their gains led by firm global cues and buying demand among capital goods, auto and IT shares.

By 1435, Sensex surged by 192 points at 18,753, and the Nifty gained 53 points at 5,698 levels. The Sensex and the Nifty reached an intra-day high of 18,794 levels and 5,711 mark, respectively.

On the global front, Asian shares rose on Friday as investor risk appetite returned after overnight data suggested some stabilisation in the global recovery trend, particularly in the world's top two economies, the United States and China. Nikkei, Strait Times, Hang Seng, Kospi and Taiwan gained between 0.4-2%.

Back home, the rupee today rose by 10 paise to 53.60 against the US dollar in early trade, extending gains for the fourth straight session at the Interbank Foreign Exchange market on the back of increased capital inflows.

On the sectoral front, BSE Capital Goods index has surged by almost 2% followed by counters like IT, Realty, TECk, Metal, Power, Auto, PSU, Banks, FMCG and Healthcare, all gaining by 1% each. Infact, all the sectoral indices are trading in green zone.

From the Capital Goods space, L&T has gained over 2%. L&T has received new orders of over Rs 1,063 crore across various segments in October. BHEL has gained by nearly 2%.

Among software shares, Infosys, TCS and Wipro have spurted between 1-2%. Wipro is trading higher after reporting a better-than-expected 2% quarter-on-quarter (qoq) growth in its consolidated net profit at Rs 1,611 crore for the second quarter ended September 2012.

Shares of automobiles companies are in limelight on the bourses with most of then trading higher by up to 3% after reporting a strong growth in October vehicle sales. The auto makers hope for higher sales ahead of Diwali.

Bajaj Auto and Mahindra and Mahindra (M&M) are quoting at their historic highs after reported highest monthly sales in October, while Maruti Suzuki India is trading nears to its two-year high on the Bombay Stock Exchange (BSE).

Maruti Suzuki India posted an 87% increase in domestic sales at 96,002 units compared with 51,458 cars in the year-ago period. The company expects better sales in coming months as demand picks up in the second half due to festive sentiments and year-end buys.

Mahindra and Mahindra (M&M) is trading higher by around 2% at Rs 915, extending its previous day’s 2% gain on the Bombay Stock Exchange, after reporting highest ever monthly sales of 53,438 units in October 2012.

Other notable gainers include ICICI Bank, Hindalco, Sterlite, Cipla, NTPC, GAIL, JSPL and SBI.

Among individual shares, Marico Industries has dipped almost 6% at Rs 202 after reporting lower than expected 10% year-on-year (yoy) growth in its consolidated net profit at Rs 86 for the second quarter ended September 2012, due to higher finance cost and lower other income.

Union Bank of India has surged over 6% at Rs 219 on reporting 57% year-on-year (yoy) jump in net profit at Rs 554 crore due to higher interest income and lower provisioning for bad loans.

The overall breadth is positive as 1,588 stocks are advancing while 1,163 are declining.