Sensex Zooms 462 Points, Nifty Ends Near 15,700; Auto & FMCG Stocks Rally

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Indian share markets ended the week on a firm note tracking positive global cues.

Benchmark indices ended on a positive note as buying was witnessed in index heavyweights like Reliance and select financial stocks.

At the closing bell, the BSE Sensex climbed 462 points (up 0.9%).

Meanwhile, the NSE Nifty ended higher by 143 points (up 0.9%).

M&M, IndusInd Bank, and Bajaj Finance were among the top gainers today.

Tech Mahindra, Infosys, and NTPC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,702, up by 129 points, at the time of writing.

The broader markets also ended on a firm note. The BSE MidCap index and the BSE SmallCap index ended higher by 1.5% and 1.6% respectively.

Barring IT, all sectoral indices ended in green with stocks in the auto sector, telecom sector, and FMCG sector witnessing most of the buying.

IT stocks have taken a strong beating in the current calendar year. So be prepared on what may come next. Read about what the massive selloff in US tech stocks teaches us about investing.

As Indian share markets seem to be recovering, you must be wondering when will the markets fully recover.

In this uncertainty, check out these 5 consistent compounding stocks that are available at discount.

Also, check out this stock we call as the greatest dividend stock of all time. This IT company's dividend growth rate has beaten Nifty's 20 year annual returns.

Asian stock markets ended in the green supported by slipping commodity prices.

The Nikkei ended higher by 1.2% while the Shanghai Composite advanced by 0.9%. Meanwhile, the Hang Seng jumped 2.1%.

European shares are trading on a firm note, as investor sentiment was lifted by an upbeat close on Wall Street.

Market sentiment is improving even as recession fears remain. UK PMI data yesterday showed that business activity held steady, but news orders slowed dramatically.

US stock futures are trading on a positive note with the Dow Futures trading up by 233 points.

The rupee is trading at 78.29 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 50,630 per 10 grams.

Speaking of gold, we have been seeing that gold prices are falling recently. But today the pattern has changed. The gold price is trading on a positive note.

But why is that? Will gold price rise or fall in inflation?

Find out how gold reacts to inflation in this video.

In news from the electric vehicle space, Greaves Electric Mobility has announced the completion of allotment of equity shares to Abdul Latif Jameel, a diversified global investor by way of preferential allotment through a private placement basis for a consideration of US$ 150 m.

The company has allotted 6.8 m equity shares of face value of Rs 10 each aggregating to 35.8% shareholding on a fully diluted basis.

Following the allotment, the company continues to be a subsidiary of Greaves Cotton and the resultant shareholding on a fully diluted basis is now at 61.4%.

Greaves Electric Mobility manufactures electric two-wheelers under the brand name of Ampere Vehicles and electric three-wheeler vehicles under the brands Ele and Teja.

Greaves Electric Mobility has grown from a small base and currently posts annual revenue of more than US$ 100 m.

Over the last few years, the company focused on expanding its product offerings through acquisitions, and now it caters to the electric vehicle ecosystem in India.

Greaves Cotton share price ended 4.5% higher on the BSE today.

If you are interested in EV stocks, have a look at the top EV stocks in India and the EV penny stocks in India.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

Here's what lead Smallcap Analyst at Equitymaster, Richa Agarwal wrote about this in one of the editions of Profit Hunter:

• In the last five years, two-wheeler sales in India were around 2 crore units per year. Now the sector is cyclical and has been in the downturn for some time. So let's consider a moderate 5% growth for the next 10 years.
  
  By 2030, we are looking at 2-wheeler sales of 3 crore units. Even if one third of this is EV sales, that's 1 crore electric 2-wheelers per year.
  
  In the last 2 years, average electric 2-wheeler sales were 1.5 lakh units. From 1.5 lakh to 1 crore, that's a 66x opportunity in 2-wheeler EVs.
  
  This is an annual growth rate of 52% over next 10 years. It's an almost vertical growth opportunity.

As per Richa, this is like a gold rush. But like in any gold rush, the winners will just be a few.

Moving on to news from the commodity space, commodity prices showed signs of settling down as copper, a metal that has applications across industries and construction activities, saw its sharpest weekly fall since the pandemic-induced jolt to economic activity in March 2020.

The commercial metal slid 3% in Shanghai and 7% for the week.

Food and oil input prices, which have majorly contributed to the inflation basket have also cooled off in the last week.

According to a leading financial news agency, factory activity across the US, UK, Japan, and the eurozone showed signs of an economic slowdown or a recession with US factories reporting a drop in orders for the first time in two years.

A relaxation in global commodity prices has helped global stock market indices escape the bear's grip.

Note that metal stocks have fallen over 50% from their peaks this year on the back of rising commodity prices.

Tata Steel, one of the multibagger stocks of 2021, is down around 55% from its peak.

It remains to be seen what the rest of the year has in store for metal stocks.

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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