Stock indices close 1 pc higher, auto and IT stocks surge

Mumbai (Maharashtra) [India], Mar 2 (ANI): 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 per cent higher at 50,297 while the Nifty 50 advanced by 158 points or 1.07 per cent 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 per cent, IT by 3 per cent and FMCG by 1.4 per cent.
Among stocks, Tata Motors jumped by 5.1 per cent to Rs 345.15 per share. Mahindra & Mahindra gained by 4.6 per cent, Hero MotoCorp by 3.9 per cent and Bajaj Auto by 3.5 per cent.
IT majors also witnessed smart gains with Wipro moving up by 4.4 per cent to Rs 432.90 per cent. Tech Mahindra, Infosys and Tata Consultancy Services gained between 3.2 and 3.5 per cent.
Power utility NTPC was up by 3.7 per cent to Rs 112.45 while Adani Ports surged by 4 per cent to close at Rs 721.25 per share.
However, ONGC fell by 2.6 per cent 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.
Meanwhile, Asian stocks were mixed despite a halt in the recent bond markets sell-off. Japan's Nikkei was down by 0.86 per cent as investors cashed in on strong yearly gains.
Hong Kong's Hang Seng and Shanghai composite index slipped by 1.21 per cent each. (ANI)