Sensex up 222 points, bank, auto and IT stocks rally

Mumbai -  A benchmark index of Indian equities markets was trading 222.69 points up around 3 p.m. Tuesday on the back of good buying in bank, auto, information technology (IT) and metals stocks.

The markets were buoyed by the assurance given by Finance Minister P. Chidambaram Monday that the government will do everything to maintain the investment attractiveness of the country. There were also strong global cues after reports of a surge in US hiring.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,456.37 points, was ruling at 17,635.65 points, 1.28 percent or 222.69 points up from its previous day's close at 17,412.96 points.

The Sensex touched a high of 17,637.80 points and a low of 17,417.92 points. The BSE midcap index was up 36.40 points and the small cap index was 35.30 points higher.

The BSE bank index was up 169.34 points, followed by auto index, up 163.21 points, IT index, up 118.82 points, and metal index, up 97.15 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was ruling 1.08 percent or 56.95 points up at 5,339.50 points.

The major Sensex gainers were Tata Motors, up 4.00 percent at Rs.237.80; TCS, up 2.90 percent at Rs.1,265.05; Bajaj Auto, up 2.88 percent at Rs.1,680.00; Gail India, up 2.56 percent at Rs.375.00; and SBI, up 2.32 percent at Rs.2,065.00.

Only three of the 30-scrip sensitive Sensex were in the red -- Hero MotoCorp, which was down 1.34 percent at Rs.1,953.25 followed by Bharti Airtel, down 0.30 percent at Rs.295.25, and HDFC Bank, down 0.19 percent at Rs.598.60.

Among other Asian markets, Japan's Nikkei was up 0.88 percent while Shanghai's composite index was 0.13 percent higher. Hong Kong's Hang Seng was up 0.37 percent.