Sensex rises 335 points, remains strong

Major equity indices traded marginally higher in mid-day trade. Nifty was trading above 17,250. Auto, Media and PSU Bank stocks rose while pharma, realty and FMCG stocks declined.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 334.98 points or 0.58% at 57,905.23. The Nifty 50 index rose 102.15 points, or 0.60%, to 17,260.40.

In the broader market, the S&P BSE Mid-Cap Index gained 0.72%, while the S&P BSE Small-Cap Index gained 1.07%.

The breadth of the market was strong. On the BSE, 2,170 shares rose and 1,077 shares fell. A total of 168 shares remained unchanged.

Buzzing Index:

The Nifty PSU Bank index rose 1.13% to 2,816.45. The index had lost 1.17% in the previous trading session.

UCO Bank (up 2.65%), Punjab National Bank (up 2.23%), Canara Bank (1.26%), Bank of Maharashtra (up 1.19%), Central Bank of India (up 1.12%), Bank of India (up 1.05) %), Punjab & Sind Bank (up 1%), State Bank of India (up 0.96%), Indian Overseas Bank (up 0.87%) and Union Bank of India (up 0.52%).

Bank of Baroda rose 1.08%. On a standalone basis, Bank of Baroda’s net profit grew 79.39% to Rs 2,168.13 crore, registering a 1.02% increase in total income to Rs 20,119.52 crore in Q1 FY23 as compared to Q1 FY22.

Stocks in the spotlight:

Bajaj Auto rose 0.62%. The auto major recorded total sales of 3,54,670 units in July 2022, down 4% as compared to 3,69,116 units sold in July 2021. Sales in the domestic market grew 9% YoY to 1,82,956 units. period under review. However, exports declined by 15% to 1,71,714 units in July 2022 as compared to the same period last year. Two-wheeler sales declined 5% to 3,15,054 units in July 2021, while commercial vehicle sales increased 3% to 39,616 units in July 2022.

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Godfrey Phillips India Company’s consolidated net profit advanced 5.63% after growing 26.65% to Rs 142.30 crore on account of 35.76 per cent growth in net sales from Rs 819.55 crore in Q1 June 2022 to Rs 819.55 crore in Q1 June 2022.

Nazra Technologies rose 16.19%. Nazara Technologies’ consolidated net profit grew 22.2% to Rs 16.50 crore, registering a 70% increase in net sales to Rs 223.10 crore in Q1 FY23 as compared to Q1 FY22.

global market:

Most Asian stocks advanced on Monday as disappointing Chinese economic data raised doubts that last week’s rally on Wall Street could be sustained as policy tightening set by global central banks.

China’s factory activity actually contracted in July as fresh virus flare-ups weighed on demand. The official Manufacturing Purchasing Managers’ Index (PMI) fell to 49.0 in July, down from a forecast of 50.4.

The official non-manufacturing PMI fell to 53.8 in July from 54.7 in June. The official overall PMI, which includes manufacturing and services, fell to 52.5 from 54.1.

US stocks climbed for a third straight session on Friday as investors digested strong technical earnings and looked past worries about high inflation and a bearish environment.

On Friday, investors also got the final reading of the University of Michigan Consumer Sentiment Index, which came in at 51.5 for July. It is a slight correction from initial readings and is well above June’s all-time low of 50.

operated by Capital Markets – Live News

(This story has not been edited by Business Standard employees and is automatically generated from a syndicated feed.)

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