Sensex gains by 194.57 pts
Business

Sensex up by 230 points; Auto stocks make gains

The benchmark index of Bombay Stock Exchange (BSE) on Wednesday rebounded by 230 points to touch a high of 34,543.04 in the morning hours of trade. The NSE Nifty rose and breach the 10,350-mark.

Hero MotoCorp, Vedanta, Tata Motors, Bajaj Auto, Bharti Airtel, Maruti, Yes Bank, and M&M were among the top gainers on the Sensex in opening trade. Tata Motors stock marked a gain of 2 percent. Bajaj Auto recorded 3.2 % gain.

Due to increased selling by exporters, the Dollar became weaker and the rupee rose by 23 paise to 74.16 against the US dollar on Wednesday. The strengthening of rupee has pushed the market up. RBI's decision to inject Rs.12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet the festival season demand for funds also supported the recovery in rupee.

Uttam Galva Steels, Zee Entertainment, Bandhan Bank and Indiabulls Ventures are four BSE-listed firms which will announce their quarterly results today.