Sensex at 12-week closing high metals, autos gain

02/02/2012 06:08 AST

The Sensex rebounded in late trade on Wednesday to post its highest close in 12 weeks, as metal producers and auto makers jumped, although investors were doubtful the rally could be sustained after a rise of nearly 12 per cent so far this year.

Auto makers rose on better-than-expected January sales. Top carmaker Maruti Suzuki gained 2.4 per cent to its highest close in five and a half months after it reported its first monthly sales rise since May last year.

No 2 lender ICICI Bank fell 1.4 per cent after surging nearly six per cent in the previous session. Top mortgage lender Housing Development Finance Corp fell 1.3 per cent after private-equity firm Carlyle Group was said to have sold a quarter of its stake in the company.

The main 30-share BSE index rose for a second straight day to close 0.62 per cent, or 107.03 points higher at 17,300.58, with 19 of its components rising. It was the index's highest close since November 9.

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