Sensex jumps 182 points to cross 28,000; auto, IT shares rally

Domestic equity markets put up a strong show in early trade Wednesday, with the benchmark Sensex edging past 28,000-mark amid buying in IT, automobile and metal shares as investors drew positive cues from overnight gains in the US indices. At 9.45 am, 30-share BSE S&P Sensex was at 28,115.19, up 182.29 points, or 0.6 percent, after touching a high of 28,126.57. The broader 50-share CNX Nifty was quoted at 8,505.35, up 51.25 points, or 0.6 percent. [caption id=“attachment_2343014” align=“alignleft” width=“380”] Reuters[/caption] Market breadth was firm with 1,252 stocks advancing against 417 declines on the BSE. Among the global markets, key US indices Dow Jones and Nasdaq ended 0.4-0.6 percent higher on Tuesday, while Asia displayed a mixed trend with the Nikkei rising 0.4 percent while Hang Seng falling 0.4 percent in the ongoing trades. In the Sensex pack, shares of Maruti Suzuki gained 2.2 percent to Rs 4,138.40, ONGC 1.4 percent to Rs 293.80, HeroMoto Corp 1.1 percent to Rs 2,670 and M&M 1.1 percent to Rs 1,283.10. Other early movers such as Wipro, L&T, TCS, Reliance Industries, Vedanta, Hindalco, Axis Bank and Tata Steel were up around 1 percent each. On the other hand, MRPL fell 3.6 percent to Rs 76.40 after gaining sharply in recent sessions. Sun TV also declined 2.1 percent to Rs 273.40 on reports the company will not be allowed to participate in the next round of FM auctions after home ministry denied the company security clearance.