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  • opening trade,Sensex recovers 44 points

    Published on August 11, 2010

    The Bombay Stock Exchange benchmark Sensex on Wednesday opened almost 44 points higher than yesterday trade, as auto stocks led recovery after Tata Motors posted excellent quarter earnings.

    The 30-share index, which had lost 67.51 points in the previous session, gained 43.89 points or 0.24 per cent to 18,263.88 points in the opening trade.

    The wide-based National Stock Exchange’s Nifty also gained 12.55 points or 0.20 per cent to 5,473.25.

    Brokers said sentiments turned better on strong corporate earnings with auto major Tata Motors posting a net profit of Rs 1,988.73 crore for the quarter ended June, triggering buying in auto sector stocks.

    They said the mixed trend on the Asian bourses, however, capped gains.

    Shares of Tata Motors continued to rise for the second straight session and gathered another 5.64 per cent to Rs 1,011.30. It had ended 4.17 per cent higher at Rs 957.30 in yesterday’s trade.

    Other auto stocks such as Hero Honda, Mahindra and Mahindra and Maruti Suzuki were up by 0.17 per cent to Rs 1,870.90, 0.40 per cent to Rs 643 and by 0.02 per cent to Rs 1,226.30 respectively, largely on significant growth in vehicle sales in July 2010.

    In other major players, Telecom major Bharti Airtel stocks dipped by 0.19 per cent to Rs 323.70 from Rs 335.60 in the morning trade after the company net profits for the April-June quarter dipped by 32 per cent to Rs 1,682 crores.

    IT major Infosys Technologies was up by 0.15 per cent at Rs 2,837, Reliance Industries gained 0.35 per cent to Rs 991.70, SBI scrip was trading 0.23 per cent high to Rs 2,637.65, DLF Ltd by 0.42 per cent to Rs 321.60 and Tata Steel gained 1.44 per cent at Rs 545.60.

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