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Markets move up. Tata Motors sees 6.5% surge.

Markets have opened up higher this morning, despite flat global cues. The Sensex has crossed the 18,000 mark in opening deals and is up 206 points or 1% at 18,054. Nifty is up 61 points at 5,477.

The BSE auto index is the biggest gainer in early trades and is up 3% at 10,295. Realty, capital goods, bankex and metal indices have moved up 1-2% each.

Tata Motors is the top contributor to the Sensex’s upmove. The stock is up 6.3% at Rs 285. Tata Motors, the country‚Äôs biggest automobile manufacturer, on Tuesday reported a 41 growth in consolidated net profit at Rs 3,405 crore for the quarter ended December 31, 2011, as robust sales at Jaguar Land Rover (JLR) helped improve margins.

ICICI Bank and Larsen & Toubro, together accounts for over 50 points rally in the Sensex.

Meanwhile, Reliance has slipped marginally to trade flat at Rs 848.

Among individual stocks, Unitech has advanced 4% on reporting 50 per cent drop in consolidated net profit for the third quarter ended December 2011.

A panel of ministers will meet on today to discuss selling shares in state-run ONGC and BHEL. ONGC is up 0.6% at Rs 278 while BHEL is trading up 1.7% at Rs 269.



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