BSE, NSE on a roll

The key indices on the BSE and NSE today rose to their highest levels in more than a year on encouraging corporate results.
  
In the last 30 minutes of trading, the 30-BSE Sensex surged by 253.92 at 15,924.23, after hitting the day's high of 15,963.36. Similarly, the 50-stock Nifty shot up to 4,723.75, before ending with a gain of 74.95 to 4,711.40.
    
Both the indices zoomed to levels last seen on June 3 last year, as funds and general investors bought blue-chip stocks led by the auto and metal sectors. A firm opening at European stock markets this afternoon further fuelled the uptrend as overseas investors indulged in enlarging their positions in domestic markets here.
    
The auto index rose the most, by 4.60 per cent, to 5,976.45 after Maruti Suzuki, the maker of half the cars sold in India, advanced on reports that the company improved its sales last month. Maruti gained 3.98 per cent to Rs1,469.55, to close at its highest since it went public six years ago.
    
The realty sector surged 4.19 per cent to 4,072.49, followed by the metal sector index, by 3.41 per cent to 12,818.02 as Sterlite Industries rose to a seven-week high after a measure of six metals traded in London jumped 1.7 per cent.  

Reliance Industries gained 2.96 per cent to Rs2,014.95, Infosys 0.58 per cent to Rs 2,075.85, Hindalco 7.98 per cent to Rs108.20, BHEL 5.15 per cent to Rs 2,342.70 and Tata Steel 4.52 per cent to Rs483.60. All the five carry nearly 34 per cent weight on the sensitive index.
    
In the 30 Sensex stocks, 26 gained while HDFC Bank, Hindustan Unilever, Housing Development Finance and ITC Ltd were down. The gauge changed direction at least 10 times after falling 0.4 per cent earlier. The measure climbed 8.1 per cent last month as the first-quarter results of 23 of the 30 Sensex companies beat analysts’ estimates.
   
Trading sentiment gathered momentum after Asian stocks gained for a third day and European markets opened better this afternoon on encouraging economic US data. The MSCI Asia Pacific Index rose 0.5 per cent to 112.44 in Tokyo. The gauge has gained 15 per cent over the past three weeks as better-than-expected results from US and Asian companies led to improved investor confidence.
     
The power index rose 2.19 per cent to 3,035.63, oil and gas 2.04 per cent to 9,673.08, capital goods 1.82 per cent to 12,825.22, healthcare 1.41 per cent to 3,858.59 and banking 1.20 per cent to 8,567.69. With buying spread widely, the midcap index rose 2.36 per cent to 5,702.58 and the smallcap index by 1.74 per cent to 6,313.78.