Markets starts 2010 on firm note; autos lead

Markets starts 2010 on firm note; autos lead

Mumbai: The Bombay Stock Exchange benchmark Sensex on Monday rose by 72 points, or 0.41%, in early trade with markets opening at 09:00am on the first trading session in the New Year.

The Sensex moved up by 72.51 points to 17,537.32 points in choppy opening trade on buying in heavyweight stocks by foreign funds and retail investors tracking firm global cues.

The broader National Stock Exchange Nifty gained 23 points, or 0.44% to 5,224.05 points.

The BSE and the National Stock Exchange have advanced the trading timing to 09:00am from today with a view to better align the domestic markets with the Asian bourses.

Brokers said the mood on the first session in the New Year remained upbeat with stocks of auto sector leading the rally, buoyed by strong growth in vehicle sales in December.

Besides, firming trends on the other Asian bourses also boosted the trading sentiments here, they added.

The BSE auto sector index shot up by 1.19% to 7,524.22 as stocks of Mahindra and Mahindra shot up by 2.70% to Rs1,110, Tata Motors by 1.48% to Rs804.35, Maruti Suzuki by 0.98% to Rs1,574 and Hero Honda by 0.09% to Rs1,718.

Other gainers which supported the Sensex were Tata Power by 1.31% to Rs1,396, NTPC by 0.34% to Rs236.50, Sun Pharma by 1.41% to Rs1,528.35 and HDFC Ltd by 1.05% to Rs2,706.