Stock market update: Sensex, Nifty up as Tata Motors, ICICI Bank shares gain

Major gainers were Tata Motors ((3.16 pct), ICICI Bank (2.05 pct), HDFC (1.50 pct), TCS (1.39 pct) and Jindal Steel (1.38 pct).

Asian stocks rose in their early trade as US jobs and manufacturing data boosted optimism in the world's biggest economy. Key benchmark indices in China, Hong Kong, Japan, Singapore and Taiwan rose by 0.01 pct to 0.76 pct while South Korea's Kospi fell 0.06 pct.

Tata Motors shares gain 3.5 percent and UltraTech Cement Ltd advances 3.6 percent after briefly plunging as much as 10 percent each on Friday, because of a technology trading glitch from brokerage Religare Capital Markets.

Oil refiners gain on expectations they will announce a diesel price hike as early as this week after the government last month allowed companies to raise prices.

* Hindustan Petroleum Corp Ltd, Indian Oil Corp and Bharat Petroleum Corp Ltd shares gain over 0.7 percent each.

Stocks More on Tata Motors

Company INFO More on UltraTech Cement

Stocks to watch-Feb 4

GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange was up 0.13 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.48 percent.

Asian shares advanced on Monday, drawing momentum from U.S. data showing some promise of a credible recovery and supported by Federal Reserve's easing plans and solid manufacturing data from Europe and China.

U.S. stocks rose to five-year highs on Friday, with the Dow closing above 14,000 for the first time since October 2007, after jobs and manufacturing data showed the U.S. economy's recovery remains on track.

FACTORS TO WATCH

Earnings: Bank of Baroda, United Spirits Ltd , Kingfisher Airlines Ltd.

STOCKS TO WATCH

... contd.

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