Sensex Trades On Cautious Note, Tata Steel Rises 3%

The benchmark BSE Sensex edged higher on Monday but gave up some of the early gains. The 30-share index rose 61.11 points, or 0.18 per cent, to 32,386.52. The gauge had gained 87.53 points in the previous session. Also, the NSE Nifty was quoting 19.10 points or 0.19 per cent higher at 10,085.50.

Barring IT and teck, all the sectoral indices, led by metal, realty, bank and auto were trading in the positive terrain with gains up to 1.03 per cent. Brokers said sentiment remained positive on the back of persistent capital inflows by foreign funds and widening of positions by retail investors.

Among Sensex components, Tata Steel emerged top gainer by surging 2.79 per cent to Rs. 591.55 as participants raised their bets ahead of quarterly earnings numbers. Other big movers were ICICI Bank, Hero MotoCorp, Coal India, Bajaj Auto,Maruti Suzuki, Tata Motors and Sun Pharma, rising by up to 1.64 per cent.

Besides, a firm trend in other Asian markets after strong US jobs numbers provided relief to investors too influenced sentiments here.

In the Asian region, Japan's Nikkei rose 0.63 per cent and Hong Kong's Hang Seng gained 0.28 per cent, while China's Shanghai Composite Index shed 0.16 per cent. The US Dow Jones Industrial Average ended 0.30 per cent up in Friday's trade.