Sensex surges 364 points as realty, auto stocks rise; Nifty ends at 15,885 – Times of India
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NEW DELHI: Equity indices jumped on Monday with the benchmark BSE sensex rising over 350 points led by gains in realty, IT and auto stocks.
The 30-share BSE index rose 364 points or 0.69 per cent higher to close at 52,951; while the broader NSE Nifty settled 122 points or 0.77 per cent higher at 15,885.
Top gainers in the sensex pack included Titan, M&M, Reliance, TCS, Axis Bank, Maruti and Infosys with their shares rising as much as 3.44 per cent.
Whereas, Tata Steel, Bajaj Finserv, Bajaj Finance, NTPC and HDFC Bank were the major losers falling up to 1.66 per cent.
On the NSE platform, all sub-indices finished in green with Nifty Realty, Auto and IT gaining as much as 4.79 per cent.
Shares of Maruti surged after the carmaker reported 50 per cent jump in July sales figures.
“The derivative pressure that was there last week is gone and (corporate) results show that except for banking, growth is maintained and margins are good. That’s something the market is liking very much,” AK Prabhakar, head of research at IDBI Capital told news agency Reuters.
“Maruti (July) sales are good … Two-wheeler exports have been very good, which needs to be looked at. If the unlocking plays out well, Maruti and export-oriented two-wheeler stocks should really do good,” Prabhakar added.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 3,848.31 crore on Friday, as per provisional exchange data.
(With inputs from agencies)
The 30-share BSE index rose 364 points or 0.69 per cent higher to close at 52,951; while the broader NSE Nifty settled 122 points or 0.77 per cent higher at 15,885.
Top gainers in the sensex pack included Titan, M&M, Reliance, TCS, Axis Bank, Maruti and Infosys with their shares rising as much as 3.44 per cent.
Whereas, Tata Steel, Bajaj Finserv, Bajaj Finance, NTPC and HDFC Bank were the major losers falling up to 1.66 per cent.
On the NSE platform, all sub-indices finished in green with Nifty Realty, Auto and IT gaining as much as 4.79 per cent.
Shares of Maruti surged after the carmaker reported 50 per cent jump in July sales figures.
“The derivative pressure that was there last week is gone and (corporate) results show that except for banking, growth is maintained and margins are good. That’s something the market is liking very much,” AK Prabhakar, head of research at IDBI Capital told news agency Reuters.
“Maruti (July) sales are good … Two-wheeler exports have been very good, which needs to be looked at. If the unlocking plays out well, Maruti and export-oriented two-wheeler stocks should really do good,” Prabhakar added.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 3,848.31 crore on Friday, as per provisional exchange data.
(With inputs from agencies)
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