June auto sales data was mixed. Maruti Suzuki's sales during the month fell 13.9 percent with a 44.7 percent drop in exports while Eicher Motors continued its strong run by reporting 18.5 percent growth in commercial vehicles & 36 percent in Royal Enfield sales
Maruti fell half a percent in an otherwise strong market after it reported a fall of 14 percent in June sales on account of big export weakness.
The market gained strength on Wednesday following rally in global peers on easing of Brexit concerns. Cabinet's approval for 7th pay hike and Model Shop & Establishment Act also boosted sentiment in later part of trading session.
Hero MotoCorp, NTPC, Wipro, BHEL and GAIL were top gainers while Lupin, Coal India, ITC, Bharti Airtel, and Adani Ports were losers in the Sensex.
The broader markets also gained with the BSE Midcap and Smallcap indices rising 0.4-0.8 percent. About two shares advanced for every share falling on the Bombay Stock Exchange.
The market breadth remained positive as about 1242 shares advanced against 484 declining shares on Bombay Stock Exchange.
It was a consolidation day for the market on Monday as investors digested the Friday's sharp fall led by Britain's vote to leave the European Union and feels India will have minimal impact of Brexit among Asian countries.
Dr Reddy's Labs, Cipla, SBI, Sun Pharma and L&T were top gainers while TCS, Infosys, Wipro, Asian Paints and Bajaj Auto were losers in the Sensex.
ITC, L&T, SBI, ICICI Bank, Axis Bank, HUL, Adani Ports, Dr Reddy's Labs and NTPC gained 1-2 percent while TCS, Infosys and Wipro fell 1-3 percent.
The BSE Midcap and Smallcap indices gained 0.4 and 1 percent, respectively. The market breadth was also positive as about three shares advanced for every share declining on Bombay Stock Exchange.
Tata Motors and Tata Motors (DVR) topped selling list on Nifty, down over 2 percent. Escorts, Force Motors, Tata Metaliks, Vakrangee, Arvind, Tata Motors, SBI and Axis Bank were most active shares on exchanges.
The market breadth was positive as about 1019 shares advanced against 659 declining shares on Bombay Stock Exchange.
The broader markets also joined the party with the BSE Midcap and Smallcap indices rising 0.4-0.6 percent. The market breadth remained positive as about two shares advanced for every share falling on BSE.
The market breadth was also positive as about three shares advanced for every share falling on BSE. L&T, State Bank of India, Bharti Airtel, Hero Motocorp and NTPC gained 1-2.5 percent.
Pharma, infra, telecom and HDFC group stocks dragged market while Axis Bank, ICICI Bank, Infosys, HUL along with auto stocks gained.
The quarter earnings season was decent but a large part of the improvement was led by margin rather volume expansion, says Gautam Chhaochharia of UBS, adding that this may not be sustainable.
The BSE Midcap and Smallcap indices rose 0.6 percent each as more than two shares advanced for every share falling on Bombay Stock Exchange.
The BSE Midcap and Smallcap indices fell 0.16 percent and 0.65 percent, respectively. The market breadth was also negative as about two shares declined for every share advancing on BSE.
Tata Motors and NTPC topped buying list on Sensex, up 1.8 percent and 2.9 percent, respectively. Reliance Industries, ITC and ICICI Bank gained nearly a percent while TCS, L&T, Sun Pharma, Bajaj Auto and ONGC declined over a percent.
Oil prices slipped in Asian trade today, hit by a strong dollar and signs that global crude supply is holding up even as unplanned outages rise to at least a five-year high.
Though BSE midcap index gave only 5 percent returns between May 18,2015 to May 16, 2016 the index jumped 37 percent between 2014-2015.Results of general elections were declared on May 16, when BJP-led National Democratic Alliance (NDA) won with a majority to form the new government.
Equity benchmarks halved gains due to late profit booking in index heavyweights on Tuesday. In intraday trade, the market gained nearly 1 percent, tracking positive global cues and after exit polls.
In the one year-period, from May 16 2014 the Sensex gained 15 percent while the Nifty climbed 16 percent. However, the indices fell off the cliff soon as Modi's magic began to dwindle in the year BJP formed government with Narendra Modi as the Prime Minister.
Bank of Baroda (-7 percent), SBI (-3 percent), Bharti Airtel (-3 percent) and GAIL (-2 percent) were the big losers in the Nifty. Other laggards in the index were Axis Bank (-1 percent),BPCL (-1 percent),Hero Motocorp (-1 percent) and Adani Ports (-1 percent).
SP Tulsian, sptulsian.com, shares his views on Glenmark, PSU bank stocks and why he is bearish on NBFC stocks.