Sensex gains for seventh straight session; metals, miners surge

MUMBAI (Reuters) - The BSE Sensex gained for a seventh straight day on Thursday in a volatile session that saw metals and mining companies such as Hindalco Industries and Jindal Steel and Power surging after the successful completion of the country's first auction to sell mines.

The auction follows a court cancellation of all previous licenses and the initial bidding suggests companies are keen to secure supplies as the economy improves.

The Sensex gained 0.48 percent to 29,462.27 points, while the Nifty ended 0.3 percent higher at 8,895.30 points.

($1 = 62.0732 rupees)

(Reporting by Indulal PM; Editing by Sunil Nair)