Sensex, Nifty end higher as metals, auto stocks soar

Updated: Tuesday, July 1, 2014, 15:31 [IST]

Indices

A sharp surge in metal and auto stocks saw the Sensex and the Nifty gaining for a second day in a row. The Sensex ended the day higher by 102 points, while the Nifty closed the day higher by 23 points.

Leading the set of gainers from the Nifty was Hindalco, which jumped a huge 7 per cent after China's PMI data came in better than expected. The stock was also upgraded by a leading foreign brokerage firm.

Other metal stocks that rallied in trade were Tata Steel and Sesa Sterlite.

Auto stocks were the clear out performers after auto sales numbers for the month of June came in better than expected. Shares in Maruti jumped six per cent, following a jump of 33 per cent in auto numbers for the month of June. Mahindra and Mahindra and Tata Motors were the other stocks that rallied in trade today.

IT stocks saw selling pressure with Infosys, HCL Tech and TCS among the losers. Other Nifty stocks that lost ground in trade were NTPC and HDFC.

Mid cap stocks saw some selling pressure with notable losers being CESC, Union Bank and UPL. However, select stocks like Steel Authority and GAIL gained ground. Delhi based realtor, Anant Raj saw its shares rallying following reports that the company was looking at means to cut its debt.

Meanwhile, markets across Europe were trading higher with the German DAX, French CAC and the UK's FTSE all up.

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