Markets end higher led by auto shares

Markets ended higher on Thursday led by auto shares on the back of robust October sales.

The 30-share Sensex ended at 18,562 up 56 points or 0.30% and the 50-share Nifty ended at 5,645 up by 25 points or 0.45%.

The Sensex and the Nifty reached an intra-day high of 18,589 levels and 5,650 mark, respectively.

On the global front, Asian shares ended mixed on Thursday as China's official manufacturing PMI, while confirming a trend toward recovering growth, lacked the punch to convince investors that the slowdown was bottoming out.

China's October official PMI rose to 50.2 in October from 49.8 in September, almost matching a 50.3 reading forecast, pointing to expanded factory activity in the world's second-largest economy.

European shares opened higher on Thursday, bolstered by relatively robust earnings reports despite economic weakness, while the euro inched lower as uncertainty over how the euro zone will handle crises in Spain and Greece dragged on.

The FTSE Eurofirst index of top European shares was up 0.2 percent at 0820 GMT, helped by UK corporate results including from oil major Royal Dutch Shell.

Back home, BSE Consumer Durable index zoomed by almost 6% followed by counters like Auto, Realty, Power, Healthcare, Metal, TECk and Capital Goods, all gaining between 1-2%. However, BSE FMCG index plunged by nearly 1%.

Tata Motors was the top Sensex gainer, up nearly 5% after investment bank Goldman Sachs said that the stock will become multi-bagger in next four years. Other Auto stocks like Bajaj Auto, M&M and Hero Moto gained between 1-2% on the back of robust October sales.

From the Consumer Durable space, Titan gained 10% after reporting 21% year-on-year (yoy) growth in net profit at Rs 180 crore for the second quarter ended September 2012.

Among IT shares, Wipro gained over 3%

after the company said that its board has approved the demerger of consumer care and lighting business unit into a separate company to improve the competitiveness in their respective markets.

Other notable gainers included Cipla, JSPL, Sun Pharma, BHEL and ICICI Bank.

On the losing side, FMCG majors HUL and ITC declined between 1-2%. Hindustan Unilever (HUL) ended lower after the stock of fast moving consumer goods company turned ex-dividend today.

Meanwhile, Meanwhile, BSE Midcap index gained by 0.9% whereas BSE Smallcap index closed up 0.8%.

The market breadth in BSE ended healthy with 1,673 shares advancing and 1,162 shares declining.

Smart Movers

Jet Airways surged 4% to Rs 351 extending its previous day's 4% gain ahead of its second quarter (Q2) results to be announced tomorrow.

Aurobindo Pharma soared 7% to Rs 170 on back of heavy volumes on the Bombay Stock Exchange on hopes of healthy revenue growth from US market driven by abbreviated new drug application (ANDA) approvals received from USFDA.

Thangamayil Jewellery rallied 11% to Rs 280, also its record high, after the company said it is opening its 23rd branch at Thirunelveli  tomorrow (November 02, 2012).

Godrej Properties soared 4% to Rs 603 after reporting better than expected 74% year-on-year (yoy) jump in consolidated net profit at Rs 33 crore for the second quarter ended September 2012 on back of higher operational income.

Tata Global Beverages Limited (TBGL) surged 6% to Rs 160 after reporting a healthy 54% year-on-year (yoy) jump in consolidated net profit at Rs 119 crore.