In the broader market, the BSE Midcap and Smallcap indices were trading up nearly 1% each. Market breadth remained positive with 1427 gainers and 1055 losers on the BSE.
Tata Motors was the top gainer up 2% on robust JLR sales. JLR's volumes grew 29 per cent year-on-year, with China sales up 43 per cent (about half came from the China joint venture). Two-wheeler majors Hero MotoCorp, TVS Motor and Bajaj Auto were up 0.6%-2% each.
Maruti Suzuki was up nearly 3% on renewed buying interest after the sharp correction in the previous few sessions on concerns that the rising yen would hurt margins.
Hero MotoCorp was up over 2%. The two-wheeler major has submitted plans to begin production at its proposed plant in Chittoor district in the state of Andhra Pradesh.
Among other auto shares, TVS Motor, Bajaj Auto and M&M were up 0.4%-1.7% each.
Other Sensex gainers include, Reliance Industries, ICICI Bank and Lupin among others.
Among others, shares of sugar producers have fallen by up to 10% in otherwise firm market on profit booking after sharp gains in the previous sessions. Oudh Sugar Mills, Uttam Sugar Mills, Kesar Enterprises, Upper Ganges Sugar, Dwarikesh Sugar, Simbhaoli Sugar, Dhampur Sugar and Rajshree Sugars were down 5%-8% each.
Nestle India has surged 4% on the BSE after Maggi noodles has passed all safety tests directed by the Supreme Court and the National Consumer Disputes Redressal Commission (NCDRC).
(updated at 11:40am)
continued to trade firm in late morning trades with agri-based and auto stock gaining the most on hopes of higher demand in wake of above normal monsoon forecast this year.
At 11:40am, the S&P BSE Sensex was up 96 points at 25,119 and the Nifty50 gained 30 points at 7,701. In the broader market, the BSE Midcap and Smallcap were up 0.9% each. Market breadth was strong with 1373 gainers and 799 losers on the BSE.
Skymet, a non-government weather forecaster, said on Monday that the year's southwest monsoon should be slightly ‘above normal’, at 105 per cent of the Long Period Average (LPA).
Foreign institutional investors were net buyers in equities worth Rs 107 crore, as per provisional stock exchange data.
Meanwhile, market will remain closed on Thursday and Friday on account of Baba Saheb Ambedkar Jayanti and Ram Navami, respectively.
In the auto segment, Maruti Suzuki was up 2.5%.
Tata Motors was up 1.2% on robust JLR sales. JLR's volumes grew 29 per cent year-on-year, with China sales up 43 per cent (about half came from the China joint venture). Two-wheeler majors Hero MotoCorp, TVS Motor and Bajaj Auto were up 0.6%-2% each.
Tata Steel witnessed profit taking after recent gains and was down over 1%. The steel major on Monday signed an agreement to sell the loss-making 4.5-million tonne (mt) long-product Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital.
Bharti Airtel was marginally up. The telecom major said its mobile commerce subsidiary, Airtel M Commerce Services, had received payments bank licence from the Reserve Bank of India.
Dr Reddy’s Labs is up 1.6%. The drug major'ss buyback offer is to commence on April 18. The company said it proposes to acquire 44,84,049 shares (around 4.48 million shares) of face value of Rs 5 at a maximum buyback price of Rs 3,500 per share.
Among the agri-based stocks, Rallis India, UPL, Advanta, Monsanto, PI Industries, Insecticides India and Jain Irrigation were up 2.5%-14% each. In the fertiliser pack, Coromandel International, FACT. RCF and Chambal Fertilisers were up 2.5%-3.5% each.
Inox wind was up 4% after the company said it has received two contracts for a capacity of 70MW with the Adani Green Energy Ltd, a wholly-owned subsidiary of Adani Enterprises Ltd and part of the Adani Group, the release added.