Sensex rises around 300 points; blue chips gain

The BSE Sensex gains 1.18 percent while the broader Nifty is trading 1.25 percent higher, as traders cite some window-dressing buying, or buying of relative outperformers on the last day of the month and the quarter.

Blue-chip stocks lead gains with ICICI Bank Ltd gaining 2.9 percent and Oil and Natural Gas Corp. up 2.4 percent.

Power and capital goods stocks are also among the top gainers: Tata Power Co. Ltd is up 3.4 percent while Jaiprakash Power Ventures Ltd is trading 6.6 percent higher.

However, auto stocks were trading lower with Hero MotoCorp. Ltd down 0.6 percent and Mahindra and Mahindra Ltd down 0.4 percent on concerns of weaker monsoon that may impact sales.

 

(Reporting by Indulal PM)