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Sensex surges 138 points in early trade; Maruti up 9%

Tuesday, 18 March 2014 - 10:04am IST | Agency: PTI

On Tuesday, the benchmark BSE Sensex jumped nearly 138 points in early trade as stocks across the board gained on sustained buying by funds amid a firm trend on other Asian bourses.

The 30-share index rose 137.66 points, or 0.63%, to 21,947.46 with all sectoral indices, led by auto, metal and banking gaining up to 1.48%. The index had gained 35.19 points in the previous session on Friday.

The wide-based Nifty of the National Stock Exchange moved up by 47.35 points, or 0.73%, to 6,551.55.

Stock market remained closed on Monday for 'Holi'.

Brokers said sustained buying by funds and retail investors following a firming trend on other Asian bourses tracking overnight gains on the US market after data showing industrial output increased more than expected in February, mainly buoyed the trading sentiment here.

Shares of country's largest car-maker Maruti Suzuki soared 9.37% to Rs 1,899.90 after the company decided to seek approval of minority shareholders for controversial Gujarat plant, which it's parent Suzuki Motor Corp had decided to takeover from it.

Other major gainers were Axis Bank (1.62%), HDFC Bank (1.47%), ICICI Bank (1.15%), Bajaj Auto (1.03%), BHEL (2.56%), GAIL India (1.91%), Infosys (0.31%) and RIL (1.53%).

In the Asian markets, Hong Kong's Hang Seng rose by 0.50%, while Japan's Nikkei was up by 1.08% in early trade today.

The US Dow Jones Industrial Average gained 1.13% in Monday's trade.

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