Sensex reclaims 50,000-level; IT, auto stocks shine

MUMBAI: Equity benchmark indices maintained momentum despite lacklustre trading on Tuesday on the back of auto and IT stocks amid positive global trends.

The BSE S&P Sensex closed 447 points or 0.9% higher at 50,297 while the Nifty 50 advanced by 158 points or 1.07% to 14,919.

Except for Nifty PSU bank which dipped slightly, all sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 3.2%, IT by 3% and FMCG by 1.4%.

Among stocks, Tata Motors jumped by 5.1% to Rs 345.15 per share. Mahindra & Mahindra gained by 4.6%, Hero MotoCorp by 3.9% and Bajaj Auto by 3.5%.

IT majors also witnessed smart gains with Wipro moving up by 4.4% to Rs 432.90%. Tech Mahindra, Infosys and Tata Consultancy Services gained between 3.2 and 3.5%.

Power utility NTPC was up by 3.7% to Rs 112.45 while Adani Ports surged by 4% to close at Rs 721.25 per share.

However, ONGC fell by 2.6% to Rs 114 per share. HDFC, Dr Reddy's, Power Grid Corporation, Coal India, UPL and State Bank of India traded with a negative bias.