Tata Motors rebounded, up 1.7 percent after seeing a 8 percent fall in previous two sessions on fears of slowdown in JLR sales in China. Private sector lender ICICI Bank climbed 1.7 percent as media report indicated that the bank may sell home finance arm for Rs 4,400 crore.
The market continued to see buying interest after a fall in previous three sessions. Banks, pharma, auto, technology, capital goods and metals stocks supported the market while FMCG and telecom dragged. The Sensex gained 109.45 points at 27683.11 and the Nifty rose 30.05 points to 8358.60. The BSE Midcap index advanced 0.4 percent and Smallcap climbed 0.6 percent. The market breadth remained positive as about 1303 shares have advanced against 491 shares declined on the Bombay Stock Exchange. Tata Motors rebounded, up 1.7 percent after seeing a 8 percent fall in previous two sessions on fears of slowdown in JLR sales in China. Private sector lender ICICI Bank climbed 1.7 percent as media report indicated that the bank may sell home finance arm for Rs 4,400 crore. IT company TCS rebounded with marginal gains as its net profit in June quarter declined 3.3 percent and margin slipped 91 basis points on sequential basis but both beat street forecast. Wipro gained more than 1 percent as it announcesd its intension to acquire strategic design firm Designit. Infosys, Vedanta, Coal India, BHEL and Tata Steel advanced 1-3 percent while HUL, Bharti Airtel, Lupin, Bajaj Auto and GAIL fell 1-2.5 percent.
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