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

Equity benchmark indices maintained momentum despite lacklustre trading on Tuesday on the back of auto and IT stocks amid positive global trends.

The BSE SandP 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 and Mahindra gained by 4.6 per cent, Hero MotoCorp by 3.9 per cent and Bajaj Auto by 3.5 per cent.