Sensex, Nifty rise for the fourth day; auto stock shine

Sensex, Nifty rise for the fourth day;  auto stock shine

Sensex and Nifty closed strongly today.

New Delhi:

Indian equity benchmarks extended their winning run for the fourth straight session on Monday, with gains in automobile stocks showing a sharp rise in July sales in monthly data. Index heavyweight Reliance Industries and other energy stocks also supported the upward move.

The 30-share BSE Sensex closed 545 points or 0.95 per cent higher at 58,116 today, while the broader NSE Nifty rose 182 points or 1.06 per cent to end at 17,340.

Mid- and small-cap stocks ended on a strong note as Nifty Midcap 100 rose 1.67 per cent and small-cap 1.80 per cent.

Of the 15 sector gauges, 14 – compiled by the National Stock Exchange – settled in the green. The sub-indices Nifty Auto and Nifty Oil & Gas outperformed the NSE platforms rising up to 3.27 per cent and 2.12 per cent respectively.

On the stock-specific front, Tata Motors was the top gainer in Nifty as the stock rose 6.77 per cent to Rs 480.05. M&M, Adani Ports, Bharti Airtel and ONGC were also among the gainers.

Overall market breadth remained positive in 2,299 stocks, while 1,161 declined on the BSE.

M&M, PowerGrid, NTPC, Airtel, Reliance Industries, Maruti, Kotak Mahindra Bank, UltraTech Cement, Wipro, ITC, SBI and Axis Bank were the top gainers in the 30-share BSE index with a gain of 6.15 per share. Percent

Besides, shares of Life Insurance Corporation of India (LIC), the country’s largest insurer and largest domestic financial investor, closed 0.80 per cent higher at Rs 683.25.

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In contrast, Sun Pharma, Hindustan Unilever, IndusInd Bank, Nestle India, Asian Paints and TCS were in the red.