Indian stocks rise 0.75 percent

MUMBAI: Indian stocks rose 0.75 percent Thursday, posting a third day of gains as auto and metal stocks strengthened on the back of firm global market trends, dealers said. The 30-share benchmark Sensex ended the day 129.5 points up at 17,360.61. The markets will re-open for trading on Tuesday after two days of holidays. The markets rose in afternoon trade on expectation of strong earnings data from Indian companies for the fiscal third quarter. Indian markets have seen a surge in foreign capital flows of nearly $17 billion this year. The Sensex has more than doubled since March. Gainers led losers 1,598 to 1,253 on turnover of 48.84 billion rupees ($1.04 billion). The rupee rose against the dollar to 46.76 from 46.80 and also against the euro to 66.13 from 66.77. Aluminium producer Hindalco rose 4.55 rupees or 2.97 percent to 157.75 and steel maker Tata Steel rose 12.45 rupees or 2.06 percent to 615.75. Shares of the two companies were buoyed by hopes of stronger economic growth, dealers said. Reliance Industries rose 9.3 rupees or 0.87 percent to 1,075.2 and Tata Motors rose 33.05 rupees or 4.42 percent to 779.95. afp