Sensex, Nifty end 1.62% higher

Indian bourses, namely the Sensex and the Nifty ended on a firm note. The 30-share index which opened on a flat note, turned volatile in the early trades but the traded on a firm note from the afternoon sessions. Positive opening of the European stocks helped the markets to gain further momentum. On the global front, European stocks advanced as former Federal Reserve Chairman Alan Greenspan said the recession may be ending, Chinese manufacturing expanded and earnings from HSBC Holdings Plc and Barclays Plc boosted banks. UK`s benchmark index FTSE 100 rose 83.59 points, or 1.81%, to trade at 4,691.95 while French benchmark index CAC 40 gained 58.89 points, or 1.72%, to trade at 3,485.16. Germany`s benchmark index DAX advanced 98.11 points, or 1.84% to trade at 5,430.25. (4:30 p.m., IST)

Meanwhile, Asian stocks rose after Mitsubishi UFJ Financial Group returned to profit, manufacturing in China expanded and Goldman Sachs Group lifted its rating for South Korean equities. Japanese benchmark index Nikkei fell 4.36 points, or 0.04%, to end at 10,352.47 and Hong Kong`s Hang Seng index gained 233.93 points, or 1.14%, to end at 20,807.26. Both the 30-share index Sensex , and the broad based Nifty hit their new 52-week highs. The Sensex ended the day with a gain of 253.92 points, or 1.62% at 15,924.23 after touching a high of 15,963.36 and a low of 15,608.40. The broad-based NSE Nifty climbed 74.95 points, or 1.62% at 4,711.40 after hitting a high of 4,723.75 and a low of 4,617.75.

Biggest gainers in the 30-share index were Hindalco Industries (7.98%), Mahindra & Mahindra (6.88%), Reliance Communications (5.17%), Bharat Heavy Electricals (5.15%), Tata Steel (4.52%), and Tata Power Company (4.31%).

On the other hand, Hindustan Unilever (2.25%), ITC (0.70%), HDFC Bank (0.39%), and Housing Development Finance Corporation (0.17%) were the major losers in the Sensex.

Overall market breadth was positive. Out of the total 2,785 shares traded at BSE, 1,761 advanced, 953 declined while 71 remained unchanged.

Auto Sales:

Car market leader Maruti Suzuki`s (India) sales grew 33.4%. The company sold a total of 78,074 vehicles in July 2009. This includes 10,546 units for export. The company had sold a total of 58,543 vehicles in July 2008.

Bajaj Auto`s total two and three wheelers for the month of July 09 remained flat to 192,835 from 193,704 in the same period last year.

New Listing:

Mumbai based Excel Infoways got listed at the bourses today. The shares of the company got listed at a premium of 1.18% at Rs 86 on the National Stock Exchange (NSE).

Meanwhile, shares of the company got listed at a premium of 9.07% against the issue price of Rs 85 on the Bombay Stock Exchange (BSE). BSE has assigned a scrip code of 533090. Shares of the company will trade in the `B` group.