Indian Stocks Gain for First Time in Five Days, Automobil

Most Indian stocks advanced for the first time in five days, led by automobile shares.

The BSE India Sensitive Index, or Sensex, rose 0.1 percent to 19,372.26 at 10:10 a.m. in Mumbai. Nineteen of the 30 stocks on the gauge gained. Tata Motors Ltd. surged to a seven-month high after its Jaguar Land Rover unit said November sales jumped 14 percent from a year ago. ICICI Bank Ltd., the third-biggest lender, climbed the most in a week.

Stocks declined yesterday as data showing consumer-price inflation accelerated last month raised concern the central bank may not cut interest rates at a policy review next week. The government is due to release the benchmark wholesale-price index for November tomorrow.

Tata Motors increased 2.7 percent to 284 rupees. Hero Motocorp Ltd., the largest two-wheeler manufacturer, added 0.6 percent to 1,902 rupees. Maruti Suzuki India Ltd., India’s biggest carmaker, increased 0.5 percent to 1,483.5 rupees

Bajaj Auto Ltd., the third-biggest, rose 1.2 percent to 2083 rupees. .

The MSCI Asia Pacific Index gained 0.4 percent today after the U.S. Federal Reserve said yesterday it will buy $45 billion of Treasuries per month starting in January, matching forecasts for monetary stimulus in a Bloomberg News economist survey. The Standard & Poor’s 500 Index added less than 0.1 percent.

Overseas funds were net buyers of local stocks for a 19th straight day on Dec. 11, taking their net purchases in 2012 to $21.4 billion, the most among 10 Asian markets tracked by Bloomberg, excluding China, data compiled by Bloomberg show.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE