Sensex soars over 400 pts; Maruti & Infosys laggards

The market is surging ahead with major support from banks, auto and capital goods. The Sensex is up 402.99 points or 1.5 percent at 26623.94 and the Nifty gains 115.30 points or 1.4 percent at 8066.20. About 1687 shares have advanced, 539 shares declined, and 78 shares are unchanged.

Tata Motors, HDFC, ICICI Bank, L&T and TCS are top gainers in the Sensex. Among the losers are Maruti, Dr Reddy's Labs, Lupin, Coal India and Infosys. 

Oil extended gains in Asia as a decline in US drilling pointed to a slowdown in production, but concerns over demand remain after a disappointing US jobs report.

Gold retained gains from its biggest daily jump in nearly nine months as weak US jobs data eased fears the Federal Reserve will hike rates this year. Gold, which had been weighed down all year by expectations the US central bank could soon rise rates, rallied as the dollar fell. The metal is still down nearly 4 percent this year.

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