MUMBAI (Commodity Online): India’s largest commercial vehicle maker by sales, Tata Motors Ltd (BOM: 500570) today, gained momentum in a firm market with increased buoyancy.

Company stocks traded with gains of more than 7% during the market hours on the Bombay Stock Exchange (BSE) today. However, the stock closed at Rs.587.40 up by over 5% from its previous close.

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The The key benchmark indices held firm in mid-afternoon trade on optimism about Q2 September 2009 results. Sectoral index, BSE Auto recorded gains of over 1.5% to 6554.74 points today.

Gains in global stocks and higher US index futures also supported domestic bourses. The S&P CNX Nifty was trading above the psychological 5,000 mark after regaining that level in early afternoon trade.

Intraday volatility on the bourses was high. The Sensex pared gains soon after an early surge triggered by higher Asian stocks. The Sensex slipped into the red for a brief period in morning trade. The market later regained positive zone. The market surged in early afternoon trade after the inflation data. It pared gains in later before regaining strength in mid-afternoon trade.

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