Sensex up 106 pts; Bharti, RCom gain

 PTI   Mumbai     Last Updated: June 1, 2011  | 16:57 IST

The BSE benchmark index Sensex rose for the second straight session today, gaining 105.53 points at 18,608.81 on sustained buying in blue chips amid rise in foreign trade and domestic auto sales.

The broad-based National Stock Exchange index Nifty also rose by 31.85 points to 5,592, after touching the day's high of 5,597.35.

Traders said the rise in Sensex, which had climbed 271 points in the previous session, was led by demand for software exporters, capital good, power, metal and auto sector stocks on better market moving reports.

The exports grew by 34.42 per cent to $23.8 billion, while imports picked up 14.13 per cent to $32.8 billion in April.

The auto sector stocks came in demand following reports of higher auto sales by leading automakers like Maruti Suzuki, Hero Honda, Tata Motors and TVS Motors.

Among the top-10 Sensex scrips, IT bellwether Infosys Technologies rose by 0.72 per cent to Rs 2,812 a piece while biggest lender State Bank of India surged by 1.39 per cent to Rs 2,329.65, continuing its gains the fifth straight day.

The capital goods sector index gained the most by rising 1.38 per cent to 13,273.33 followed by Tech index by 1.06 per cent to 3,662.07 as Bharti Airtel rose by 1.95 per cent to Rs 381.45 and RCom gained for the fourth day by adding 4.81 per cent to Rs 93.70.

Market sentiment was further boosted after Morgan Stanley predicted 19 per cent rebound for the benchmark index this year. However, a fall in consumer durables, healthcare, realty and oil and gas stocks capped the gains.

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