Sensex Extends Gains to Fourth Day, Zooms 545 Points, Nifty Ends Above 17,300; Power & Auto Stocks Rally

Mon, 1 Aug Closing

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Indian share markets extended gains as the session progressed and ended on a strong note today as major sectoral indices saw a rise of 2-3%.

Auto stocks took charge and rallied while telecom and power stocks added fuel to the rally.

At the closing bell, the BSE Sensex stood higher by 545 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 182 points (up 1.1%).

M&M, NTPC, Reliance were among the top gainers today.

Sun Pharma, HUL, and IndusInd Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,393, up by 161 points, at the time of writing.

The broader markets ended on a positive note. Both, the BSE MidCap index and the BSE Smallcap index climbed 1.5%.

All sectoral indices ended on a firm note today with paper, auto, oil & gas and telecom stocks witnessing most of the buying.

Shares of Maruti Suzuki, Adani Total and Adani Transmission hit their 52-week highs today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also, check out the 5 stocks paying out big dividends in August 2022.

Reliance, Maruti, and ICICI Bank were amongst the most active shares on the BSE today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian stock markets ended on a mixed note. The Nikkei ended the day up by 0.7%, while the Hang Seng inched higher by 0.1%. The Shanghai Composite ended 0.2% higher.

The rupee is trading at 79.06 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.6% at Rs 51,043 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.23% at Rs 51,185 per 1 kg.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

But the past three days data suggest that both these metals have started to recover.

So when will gold and silver prices recover?

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

Speaking of stock markets, Rahul Shah talks about his favourite indicator and how it has turned bullish, in his latest video.

This simple indicator guides you on when to increase exposure to stocks and when to bring it down.

In news from the auto sector, share price of Mahindra & Mahindra hit an all time high of Rs 1,235 today.

The automotive manufacturer saw a booking of 100,000 bookings of Mahindra Scorpio -N in 30 minutes.

With the one minute of the opening, 25,000 bookings were recorded.

Today the company reported a 33% increase in domestic passenger vehicles sales in July this year at 28,053 units, driven by its utility vehicles.

The company had sold 21,046 units in the same month last year, Mahindra & Mahindra (M&M) said in a regulatory filing.

Domestic utility vehicle sales during the month were at 27,854 units, as against 20,797 units in the year-ago month, a growth of 34%, it added.

M&M President, Automotive Division, Veejay Nakra said

• The company witnessed robust demand for its brands, including XUV700, Thar, Bolero and XUV300.
  
  The supply chain situation continues to remain dynamic, and we are monitoring the situation closely.

Due to all these reasons, M&M share price is rising for the past couple of months.

Speaking of auto stocks, chartist Brijesh Bhatia believes this is a good time to look at two-wheeler auto stocks.

From the entire auto chain, two-wheelers auto stocks look promising. They offer the best bullish structure on the charts.

Equal Weighted Two-Wheelers (2W) Index

 

According to Brijesh, the break above the yellow dotted line in the above chart can accelerate the bullish momentum.

These two wheeler stocks are the fastest growing companies in the auto sector. Investors should be selective in this space because India's best two wheeler stocks are already powering ahead.

Choose the best fundamentally strong stocks which can be multibagger stocks for 2025.

Moving on to the news from banking sector, Yes Bank was among the top buzzing stocks today.

Private sector lender Yes Bank on the Friday announced that it will raise US$1.1 bn from two private equity investors - Carlyle and Advent International.

It plans to raise around Rs 51 bn by issuing 3.7 bn shares on a preferential basis to Advent and Carlyle at Rs 13.78 apiece and the rest through 257 crore convertible warrants at Rs 14.8 apiece.

Both the private equity investors will hold up to 10% stake in private sector lender upon the completion of the deal.

The fresh capital will come as a welcome reprieve as it has been seeking to raise funds over the past year. Yes Bank's management indicated that the new capital will likely be deployed to fuel growth of the bank on par with its peers.

To know more, check out Yes Bank's latest news and analysis.

Moving on to the news from paper sector, JK Paper was another buzzing stock.

JK Paper has reported a revenue growth of 100% in the most recent quarter.

The company's consolidated net profit surged to Rs 2.6 bn in quarter ended June 2022

EBITDA stood at Rs 4.5 bn in Q1 FY23, up 104% YoY from Rs 2.2 bn previous year.

Harsh Pati Singhania, managing director of the company said:

• This is in spite of adverse impact of substantial increase in major input costs in the recent period. Demand for paper and board remains strong. The new packaging board line has stabilised well and achieved high capacity utilization.

JK Paper share price ended the day up by 7% on the BSE.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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