Market update: Sensex snaps 3-day fall, ends 109 points up led by Hero MotoCorp shares

The benchmark Bombay Stock Exchange (BSE) index Sensex on Friday reversed a three-session falling trend and ended over 109 points higher at 26,108.53 led by gains in shares of Hero MotoCorp, HDFC Bank, BHEL, M&M and SBI, amid rebound in global markets after positive United States data.

Besides, encouraging corporate earnings and exit polls showing the Bharatiya Janata Party (BJP) gaining majority in Maharashtra and Haryana Assembly elections triggered a fresh spell of buying by participants, brokers said.

The 30-share barometer reclaimed the 26,000-mark by rising 109.19 points (or 0.42 per cent), to end the session at 26,108.53 after climbing to an intra-day high of 26,248.54. The surge comes after the BSE index lost 384.73 points in the previous two trading sessions.

Out of the 30 Sensex scrips, 21 counters ended with gains while nine stocks closed in the negative zone.

The broader National Stock Exchange (NSE) Nifty also recovered by 25.00 (or 0.32 per cent), to 7,773.20. The 50-scrip NSE index regained the 7,800-mark intra-day to touch the day's high of 7,819.20.

"Auto and banking stocks helped indices rise...rebound in global markets, further strengthened market sentiment," said Manoj Choraria, a stock broker based in the national capital.

Auto stocks led by Hero MotoCorp turned buyers fancy after the company reported a 58.62 per cent surge in net profit at Rs 763 crore for the quarter ended September 30, 2014.

Shares of Hero MotoCorp, the country's largest two-wheeler maker, gained the most among the 30 Sensex scrips by surging 3.52 per cent. Mahindra & Mahindra and Maruti Suzuki also edged higher.

Investors, after remaining sellers in the past few sessions, were seen accumulating stocks at attractive levels.

A mixed closing on other Asian markets and a rally in the European markets after positive US data also buoyed sentiments, they said.

Other Sensex-based gainers which provided support included Axis Bank, ICICI Bank, Tata Steel, Coal India, NTPC, L&T, RIL, HDFC Ltd, Bharti Airtel, Sun Pharma and ITC.

Bucking the trend, shares of IT services major Tata Consultancy Services (TCS) slumped 8.73 per cent to Rs 2,444.90 after its September-quarter earnings lagged estimates, pulling down the IT index by as much as 4 per cent.

Sectorwise, the BSE Banking sector index gained the most by rising 2.46 per cent, followed by Capital Goods index (up 1.86 per cent), Consumer Durables index (1.81 per cent), Power index (1.34 per cent) and PSU index (1.06 per cent).