Trending:

Sensex & Nifty rise for 6th straight day to close at over 3-month highs; Nifty Auto slips

BSE Sensex settled at 58,350.53, up 214.17 points or 0.37% while the broader CNX Nifty50 was at 17,388.15 level, adding 42.70 points or 0.25% in trades today.

ET Now Digital

Updated Aug 3, 2022, 15:44 IST

Sensex & Nifty rise for 6th straight day to close at over 3-month highs

Photo : iStock

Domestic benchmark indices edged higher on Wednesday while midcap stocks were under pressure today. Sensex and Nifty rose for sixth straight day to close at over 3-month highs today.

The 30-stock BSE Sensex settled at 58,350.53, up 214.17 points or 0.37% while the broader CNX Nifty50 was at 17,388.15 level, adding 42.70 points or 0.25% in trades today. Market breadth was poor as 1012 Nifty stocks advances against a decline seen in 1746.

Tech Mahindra, Infosys, Titan, TCS, and Asian Paints were the top Nifty gainers of the day while Sun Pharma, Tata Motors, Kotak Mahindra Bank, Maruti Suzuki and Coal India were the top laggards.

Broader markets did not fare as well as benchmarks as Nifty Midcap 100 and Nifty Smallcap 100 indexes ended 0.48-0.70% lower.

All sectoral indexes barring Financial Services and IT ended the day with losses: Nifty Auto, Pharma, PSU Bank, Realty, Metal and Bank ended 0.8-0.09% lower on Wednesday.

“Sales volume numbers reported by automobile OEM’s for the month of July 2022 saw mixed performance. The passenger vehicle segment reported volume growth supported by strong demand and improving chip supplies. In the two wheeler segment, domestic volume growth was muted and exports witnessed decline yoy" said Arun Agarwal- Deputy Vice President, Kotak Securities in a post-market note.

"Commercial vehicle segment saw healthy growth yoy and remained broadly steady month on month. Domestic tractor industry volumes were lower yoy. Going ahead, we will likely see volumes improving as automobile companies start building inventories ahead of the upcoming festive season,” added Agarwal.

Latest News