Sensex surges 727.03 points to close at 19997.09

Indian stocks end higher on Tuesday's trading tracking firm global cues and reduced trade deficit. The August trade deficit narrowed to USD 10.9 bn as compared to USD 12.3 bn in July 2013 adding to the positive sentiment on the bourses.

The Sensex ended the day higher by 727.03 points or 3.77% at 19,997.09 and Nifty closed the day higher by 216.35 points or 3.81% at 5896.75.

The Auto stocks rallied after the August passenger car sales rose by 15.4% YoY, snapping a decline of nine consecutive months. Tata Motors was the biggest gainer with the stock gaining 9.82% or Rs. 31.20 to close at Rs. 349. Hero Motocorp gained 5.28% at Rs. 2069, M&M gained 5.43% at Rs. 811.20, Eicher Motors was up 4.38% at Rs. 3332, Maruti gained 3.90% at Rs. 1338.70 and Bajaj Auto closed higher by 3.78% at Rs. 1983.

The BSE Bankex ended higher by 226.85 points or 2.21% at 11,584.44. Yes Bank closed up 4.45% at Rs.306, Kotak Bank closed up 4.10% at Rs. 705, HDFC Bank closed up 3.10% at Rs. 635.30 and ICICI Bank ended up 1.21% at Rs.970. SBI closed down 0.64% at Rs.1624.10.

Source : Equity Bulls

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