GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
2-min read

Sensex Hits Fresh 16-Month High, Auto Stocks Drive Rally

The rupee strengthening by 10 paise to 66.85 (intra-day) against the dollar during the day also positively impacted trading sentiment.

Press Trust Of India

Updated:September 2, 2016, 5:34 PM IST
Sensex Hits Fresh 16-Month High, Auto Stocks Drive Rally
File photo of a man outside the Bombay Stock Exchange.

Mumbai: After a day's pause, benchmark Sensex resumed its upward march by regaining almost 109 points to end at new 16-month high of 28,532.11 and the broader NSE Nifty reclaimed the 8,800-mark, driven by auto stocks on upbeat

August sales data amid positive global cues. Though, investors remained cautious awaiting US jobs data to be released later in the day which would give cues about whether the Federal Reserve goes for early rate hike or not.

On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent, biggest weekly gains in over two months.

Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services Ltd, "Though markets were subdued early in the day, the recovery in telecom stocks from yesterdays panic fall helped indices swing higher. Auto and banks continued the uptrend, and broader market sentiments remained upbeat towards better growth in the second half of the year."

"To that end, it seemed as if markets were less worried about impending US non-farm payrolls data and the potential of a September rate hike from US," he added.

The rupee strengthening by 10 paise to 66.85 (intra-day) against the dollar during the day also positively impacted trading sentiment.

Country's largest carmaker Maruti Suzuki emerged as top gainer in the auto segment, surging 1.98 per cent to Rs 5,158.50 after the company yesterday posted a 12.2 per cent
rise in total sales for August.

Also, shares of Auto major Mahindra and Mahindra rose 1.17 per cent to Rs 1,468.85 after the company reported a 14 per cent rise in total sales to 40,591 units in August.

Hero MotoCorp, country's largest two-wheeler maker's stock, gained 0.89 per cent to Rs 3,578.55 after the company reported a 28 per cent increase in sales at 6,16,424 units in
August, while Bajaj Auto rose 0.11 per cent to Rs 2,999.85 despite the company reported a 5 per cent decline in its total sales in August.

Tata Motors too evoked sizeable buying support and gained 1.13 per cent to Rs 549.80 after its sales in August jumped 6 per cent to 43,061 units.

Telecom stocks such as Bharti Airtel, Idea Cellular and Reliance Communication staged a comeback after yesterday's plunge, rising up to 2.66 per cent.

Telecom stocks suffered huge losses in yesterday's trade after Mukesh Ambani announced the launch of much-talked about Jio 4G service, offering free voice calls and national roaming.

Also Watch

Read full article
Next Story
Next Story
Most Active
Company Price Change %Gain
HDFC 1,819.25 -5.55 -0.30
Infosys 1,160.75 +13.35 +1.16
Biocon 619.75 +40.10 +6.92
ICICI Bank 318.35 -0.85 -0.27
SBI 272.60 -0.70 -0.26
Company Price Change %Gain
Indiabulls Real 220.80 +4.60 +2.13
HDFC 1,817.75 -6.35 -0.35
Maruti Suzuki 8,650.40 -129.40 -1.47
CG Consumer 230.05 -4.95 -2.11
Sun Pharma 542.15 +17.40 +3.32
Top Gainers
Company Price Change %Gain
Sun Pharma 541.45 +15.70 +2.99
Aurobindo Pharm 586.85 +15.85 +2.78
Adani Ports 404.00 +8.40 +2.12
M&M 721.95 +13.55 +1.91
Indiabulls Hsg 1,267.40 +23.35 +1.88
Company Price Change %Gain
Sun Pharma 542.15 +17.40 +3.32
Adani Ports 404.10 +8.55 +2.16
IndusInd Bank 1,624.45 +29.15 +1.83
M&M 720.90 +12.45 +1.76
Kotak Mahindra 1,072.65 +17.90 +1.70
Top Losers
Company Price Change %Gain
BPCL 427.45 -20.10 -4.49
ONGC 186.10 -4.05 -2.13
Dr Reddys Labs 2,123.45 -42.45 -1.96
Power Grid Corp 190.25 -3.70 -1.91
UPL 675.45 -12.80 -1.86
Company Price Change %Gain
Dr Reddys Labs 2,121.30 -47.50 -2.19
ONGC 186.20 -3.90 -2.05
Tata Motors 358.55 -5.80 -1.59
Maruti Suzuki 8,650.40 -129.40 -1.47
Bajaj Auto 2,971.00 -37.25 -1.24

Live TV