Live: Sensex Up 300 Points, Nifty Above 8,700; Auto Stocks In Limelight


12:31 p.m.: Shares of Maruti Suzuki surged as much as 4.43 per cent to hit 52-week high of Rs 5,720 after India’s largest car maker on Saturday reported highest ever sales in the month of September.

Gurugram-based Maruti Suzuki said that it sold a total of 1,49,143 units in September 2016 compared with 1,13,759 units during the same month last year, a growth of 31.1 per cent.

11:51 a.m.: The stock markets trade firmly higher. Sensex advances 279 points to 28,145 and Nifty rises 94 points to 8,705.

11:00 a.m.: Banking stocks were witnessing good buying interest. The Nifty Bank index was up 1.27 per cent or 245 points at 19,531; Bank of India, IndusInd Bank, Federal Bank, Yes Bank, Punjab National Bank, State Bank of India, Canara Bank and Kotak Mahindra Bank were among the gainers.

10:35 a.m.: Markets extend gains: Sensex up 300 points, Nifty firm above 8,700

10:10 a.m.: Select IT stocks were witnessing buying interest. The BSE IT index was down 0.46 per cent on the back of weakness in Infosys, TCS, HCL Technologies and Wipro were among the laggards.

9:53 a.m.: The stock markets extended gains on the back of good buying interest in auto, metal, banking, realty and healthcare shares. The Sensex advanced 253 points to 28,119 and Nifty was at 8,695, up 84 points.

9:30 a.m.: The Sensex and advanced over 150 points while 50-share Nifty moved above its crucial psychological level of 8,650 in the opening deals on the back of buying interest in auto, pharma, healthcare, oil & gas and banking shares.

The Sensex advanced as much as 161 points to 28,034 and Nifty rose as much as 61 points to hit intraday high of 8,672.

Auto stocks were witnessing good buying interest after a slew of automobile companies reported strong sales in the month of September. Pharma, healthcare, oil & gas and banking shares were also witnessing buying interest.

Maruti Suzuki was the top Nifty gainer, stock jumped as much as 4.43 per cent to hit intraday high of Rs 5,720 after India’s largest car maker posted 29.4 per cent increase in its domestic passenger vehicle sales in September.

Adani Ports, Eicher Motors, Herto MotoCorp, Tata Motors, Bajaj Auto, Tata Steel, Kotak Mahindra Bank, State Bank of India, Sun Pharma, Aurobindo Pharma, L&T and BPCL were also among the gainers.

On the other hand, ONGC, Infosys, Power Grid, TCS, Reliance Industries and HDFC were among laggards from the blue-chip space.

Meanwhile, broader markets were outperforming the benchmark indices. The BSE mid-cap and small-cap indices were up 1 per cent each.

As of 9:28 a.m., Sensex was up 121 points at 27,986 and Nifty was at 8,656, up 45 points.

8:39 a.m.: Sensex and Nifty are set to open on a flat note in trades today tracking Nifty futures trading on the Singapore Exchange.

Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was up 0.1 per cent or 9 points at 8,660.

Meanwhile, other Asian markets were trading on a strong note after risk sentiment had benefited on Friday from reports Deutsche Bank was negotiating a much smaller fine with the US Department of Justice, though the Wall Street Journal reported on Sunday that the talks were still in flux.

Japanese data showed confidence at big manufacturers was static in September amid a strong yen and sluggish demand at home and overseas.

Japan’s Nikkei was up 1.12 per cent, Hong Kong’s Hang Seng surged 1.4 per cent and Taiwan Weighted was up 0.6 per cent.

Back home, according to the NSE data, foreign institutional investors sold shares worth Rs 1,028 crore while domestic institutional investors bought shares worth Rs 1,560 crore on Friday.

Analysts on Street say that the markets are likely to remain subdued ahead of Reserve Bank of India’s monetary policy decision which is due tomorrow. Tomorrow’s monetary policy will be the first under newly appointed Governor Urjit Patel and decision on interest rates will be taken up by the newly set up Monetary Policy Committee.

Meanwhile, auto shares will be in focus today. Maruti Suzuki reported record monthly domestic sales in the month of September.

The country’s largest car maker posted 29.4 per cent increase in its domestic passenger vehicle sales in September. Others including Mahindra & Mahindra, Ford India and Toyota Kirloskar Motor also posted high single digit growth rates.

Tata Motors from auto space will also be in focus today after the company on Sunday said it is planning to increase prices of its passenger vehicles during the ongoing festive season to offset rising input cost.

Shares of telecom operators be on investors’ radar after the country’s biggest-ever spectrum auction got off to a flying start on Saturday with the day one witnessing bids worth Rs 53,531 crore, after telecom companies showed interest in all frequency bands except the premium 700 Mhz and 900 Mhz bands.