Sensex surges 200 points, Nifty aims 7,450; heavyweights gain

The market continued to see buying interest with the Sensex rising 190.55 points or 0.79 percent to 24433.53. The Nifty held 7400 level, up 52.10 points or 0.71 percent to 7420.95. 
The broader markets underperformed benchmarks with the BSE Midcap trading flat and Smallcap up 0.4 percent. The market breadth was positive as about 1050 shares advanced against 679 declining shares on the BSE. 
Tata Steel topped buying list on Sensex, up 4 percent. Tata Motors rallied 3.7 percent after Jaguar Land Rover sales increased 25.3 percent year-on-year to 7,929 units in February, majorly supported by Land Rover that grew by 30.5 percent to 6,417 units. 
ICICI Bank lost 2.7 percent and SBI declined 0.9 percent on profit booking. Maruti Suzuki slipped 0.6 percent despite company decided to hike car prices in range of Rs 1,441-34,494.
HDFC is up around 2% after the company decided to raise Rs 2,000 crore via non-convertible debentures (NCDs) to fund business needs.
Hero MotoCorp have extended gains after the company clocked a double digit growth in two-wheeler sales in the month of February 2016.
Dr Reddy's Lab is seeking approval from its shareholders for a share buyback for an aggregate amount not exceeding Rs. 1,569.42 crore.  Shares of Dr Reddy's Lab has surged almost 3%.
Tata Motors has edged higher by over 2% after JLR India total sales grew by 54% year-on-year to 277 units compared to 179 units reported in the year-ago period.

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