BENCHMARKS TRADE WITH DECENT GAINS; AUTO SHARES RALLY FOR 2ND DAY

The key equity indices continued to trade with limited gains in mid-afternoon trade. The Nifty traded above the 24,300 level. Auto shares extended gains for the second consecutive trading sessions. Trading was volatile due to weekly F&O series expiry today.

At 13:30 IST, the barometer index, the S&P BSE Sensex was up 170.85 points or 0.22% to 80,157.65. The Nifty 50 index rose 48.80 points or 0.20% to 24,335.30.

The Sensex and Nifty clocked an all-time high of 80,392.64 and 24,401, respectively in morning trade. Further, the Nifty Bank also hits record high at 53,357.70 in early trade.

In the broader market, the S&P BSE Mid-Cap index added 0.63% and the S&P BSE Small-Cap index rose 0.66%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 47,121.67 and 53,829.99, respectively.

The market breadth was positive. On the BSE, 2,201 shares rose and 1,701 shares fell. A total of 99 shares were unchanged.

Buzzing Index:

The Nifty Auto index rose 0.67% to 25,351.70. The index increased 0.88% in two consecutive trading sessions.

TVS Motor Company (up 2.35%), Tata Motors (up 1.6%), Tata Motors-DVR (up 1.52%), Bosch (up 1.47%), Balkrishna Industries (up 1.29%), Samvardhana Motherson International (up 0.81%), Bharat Forge (up 0.81%), Mahindra & Mahindra (up 0.66%), Eicher Motors (up 0.35%) and Bajaj Auto (up 0.28%) advanced.

On the other hand, Apollo Tyres (down 1.47%), Ashok Leyland (down 0.41%) and Exide Industries (down 0.4%) edged lower.

Numbers to Track:

The yield on India`s 10-year benchmark federal fell 0.10% to 6.994 as compared with previous close 7.001.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5125, compared with its close of 83.4925 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement shed 0.03% to Rs 72,379.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.17% to 105.23.

The United States 10-year bond yield grew 0.46% to 4.364.

In the commodities market, Brent crude for September 2024 settlement lost 72 cents or 0.82% to $ 86.62 a barrel.

Stocks in Spotlight:

Inox Wind zoomed 11.20% after the company announced the completion of infusion of around Rs 900 crore into the company by its promoter Inox Wind Energy (IWEL).

GRM Overseas rallied 3.10% after the company announced that it has bagged a new order worth Rs 60 crore from Bin Awadh Alnaqeeb Group from Yemen.

Alembic Pharmaceuticals advanced 2.53% after the company announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Ivosidenib Tablets.

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