MUMBAI: The Sensex on Monday gained 61 points to close at 18,823.91 on robust buying in Infosys, Tata MotorsBSE 2.65 % and ITCBSE 0.57 %, amid a positive trend in European shares.
The BSE benchmark index, which had gained 183 points in the previous session, opened marginally up and closed with a gain of 61.17 points, or 0.33 per cent, at 18,823.91.
Trading remained firm on continued buying by funds and retail investors on hopes that the government will soon announce more economic reforms, market experts said. European indices that were up one per cent each on reports of positive economic data, also aided the domestic sentiment.
Brokers said investors adopted a selective approach after the 30-share barometer gained 7.7 per cent in September -- a month where the government hiked diesel price, allowed foreign direct investment in retail and aviation, among others.
The 50-share National Stock Exchange index Niftytoday gained 15.50 points, or 0.27 per cent, to 5,718.80.
InfosysBSE 2.96 % rose by 2.96 per cent, after recording heavy losses in the last few sessions. TCS also rose 0.66 per cent. The rupee was trading at 52.5 level a dollar.
Select auto stocks also notched up smart rise after posting better-than-expected September sales. Tata Motors gained 2.65 per cent, TVS Motors went up by 4.26 per cent and Maruti SuzukiBSE 0.53 % inched up 0.53 per cent.
ITC, which rose 0.6 per cent, also helped Sensex rise. Profit-booking was seen in some private banks after strong rally witnessed in last two weeks, said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio.ICICI BankBSE -0.63 % and HDFC BankBSE -0.87 % fell in 0.7-0.9 per cent range but SBI gained 1.4 per cent.
Infrastructure-related stocks, mostly outside Sensex, including IVRCLBSE 4.52 %, NCC, Jaiprakash Asso and Reliance Infra advanced as end of Monsoon season is likely to revive construction activity, said analysts.
Retail buying in midcap and smallcap shares helped the individual BSE indices outperform the Sensex.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed tomorrow, October 2, for observing " Mahatma Gandhi Jayanti".
In Asia, China, Hong Kong and South Korea markets were closed today while indices from Japan, Singapore and Taiwan ended lower today on reports that China's manufacturing shrank for second month amid a global slowdown.
European stocks, however, were trading higher in their afternoon deals. The CAC (France) was up 1.43 per cent, the DAX (Germany) by 1.25 per cent and the FTSE (UK) by 1 percent.
Meanwhile, India's manufacturing sector "held steady" in the month of September supported by faster output growth and rising export orders, an HSBC survey said. HSBC India Manufacturing Purchasing Managers' Index (PMI) --- a measure of factory production -- stood at 52.8 in September, same as in August.
(Source: economictimes.indiatimes.com)
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