 "Sensex ends 161 points higher")
Markets ended higher on Monday on value buying led by auto shares and index heavyweights.
The 30-share Sensex ended up 161 points higher at 26,587 and the 50-share Nifty ended up 31 points at 8,014.
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(Updated at 2:15PM)
At 2:15PM, the 30-share Sensex was up 229 points at 26,654 and the 50-share Nifty was up 54 points at 8037.
The rupee was trading higher at 64 to the US dollar compared to its previous close of 64.06 tracking gains in domestic equities.
ECONOMIC TRENDS
The wholesale price index (WPI) contracted to 2.36% in May versus -2.65% in the previous month on the back of dropping oil and manufacturing goods prices.
Index of Industrial Production (IIP) increased by 4.1% in April, against a growth of 2.8% a year ago and 2.5% in March this year on the back of 5.1% growth in manufacturing and 11.1% expansion in capital goods. The manufacturing sector contributes 75% to the index.
Consumer Price Index (CPI) rose from 4.87% in April to 5.01 in May on the back a poor monsoon.
SECTORS & STOCKS
The BSE Auto and Healthcare indices were among the top sectoral gainers along with FMCG, Oil and Gas indices.
Mahindra & Mahindra is up 2.4%. The auto major is set to launch a new light commercial vehicle named Jeeto by the end of this month to take on homegrown rival Tata's popular minitruck Ace Zip.
ONGC is up 1.5%. The Tripura unit of ONGC has introduced highly technical Hydro-fracturing (HF) job procedure to intensify exploration of natural gas for supply in different projects of the state.
Shares of Relinace Industries continue its Friday’s rally and are up 1.4% after Mukesh Ambani in the 41st AGM said that RIL will commence launch Reliance Jio in December and will cover the entire population in a span of three years. He added that Reliance has made an investment worth Rs 1 trllion last year and plans to expand his retail business.
Tata Motors is up 1.3% after reporting data on global wholesale volumes for May 2015. Tata Motors' group global wholesales, including Jaguar Land Rover, rose 2.15% to Rs 79,244 units in May 2015 over May 2014.
Shares of capital goods companies gained on encouraging April IIP data. Larsen and Toubro (L&T), Bharat Heavy Electricals Limited (BHEL), ABB India, Thermax, Alstom T&D India, Alstom India and Siemens are up between 1-2% on the BSE.
Vedanta on Sunday said it would merge its subsidiary Cairn India with itself for a larger natural resource play. Each Cairn India shareholder would be offered an equity share of Vedanta , besides a 7.5% redeemable preference share of Rs 10 face value. Vedanta has slipped nearly 1% while Cairn India has moved up by 4%.
Public-sector banks have put Rs 14,000 crore worth of non-performing assets (NPAs) up for sale, to ease some pressure exerted by stressed loans on their balance sheets. Among public sector banks, SBI, Punjab National Bank, Bank of India, Punjab & Sind Bank are trading lower up to 2%.
IT shares were trading mixed after losses last week after US government opened an investigation against two of the Indian IT outsourcing companies for possible violations of H1-B visa rules. Infosys and Wipro were up 1-2% each while TCS was trading marginally lower.
In the broader market, the BSE Mid-cap was up 0.5% and the Small-cap index was up 0.8%.
Market breadth was strong with 1,457 gainers and 988 losers on the BSE.
The 30-share Sensex ended up 161 points higher at 26,587 and the 50-share Nifty ended up 31 points at 8,014.
_________________________
(Updated at 2:15PM)
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At 2:15PM, the 30-share Sensex was up 229 points at 26,654 and the 50-share Nifty was up 54 points at 8037.
The rupee was trading higher at 64 to the US dollar compared to its previous close of 64.06 tracking gains in domestic equities.
ECONOMIC TRENDS
The wholesale price index (WPI) contracted to 2.36% in May versus -2.65% in the previous month on the back of dropping oil and manufacturing goods prices.
Index of Industrial Production (IIP) increased by 4.1% in April, against a growth of 2.8% a year ago and 2.5% in March this year on the back of 5.1% growth in manufacturing and 11.1% expansion in capital goods. The manufacturing sector contributes 75% to the index.
Consumer Price Index (CPI) rose from 4.87% in April to 5.01 in May on the back a poor monsoon.
SECTORS & STOCKS
The BSE Auto and Healthcare indices were among the top sectoral gainers along with FMCG, Oil and Gas indices.
Mahindra & Mahindra is up 2.4%. The auto major is set to launch a new light commercial vehicle named Jeeto by the end of this month to take on homegrown rival Tata's popular minitruck Ace Zip.
ONGC is up 1.5%. The Tripura unit of ONGC has introduced highly technical Hydro-fracturing (HF) job procedure to intensify exploration of natural gas for supply in different projects of the state.
Shares of Relinace Industries continue its Friday’s rally and are up 1.4% after Mukesh Ambani in the 41st AGM said that RIL will commence launch Reliance Jio in December and will cover the entire population in a span of three years. He added that Reliance has made an investment worth Rs 1 trllion last year and plans to expand his retail business.
Tata Motors is up 1.3% after reporting data on global wholesale volumes for May 2015. Tata Motors' group global wholesales, including Jaguar Land Rover, rose 2.15% to Rs 79,244 units in May 2015 over May 2014.
Shares of capital goods companies gained on encouraging April IIP data. Larsen and Toubro (L&T), Bharat Heavy Electricals Limited (BHEL), ABB India, Thermax, Alstom T&D India, Alstom India and Siemens are up between 1-2% on the BSE.
Vedanta on Sunday said it would merge its subsidiary Cairn India with itself for a larger natural resource play. Each Cairn India shareholder would be offered an equity share of Vedanta , besides a 7.5% redeemable preference share of Rs 10 face value. Vedanta has slipped nearly 1% while Cairn India has moved up by 4%.
Public-sector banks have put Rs 14,000 crore worth of non-performing assets (NPAs) up for sale, to ease some pressure exerted by stressed loans on their balance sheets. Among public sector banks, SBI, Punjab National Bank, Bank of India, Punjab & Sind Bank are trading lower up to 2%.
IT shares were trading mixed after losses last week after US government opened an investigation against two of the Indian IT outsourcing companies for possible violations of H1-B visa rules. Infosys and Wipro were up 1-2% each while TCS was trading marginally lower.
In the broader market, the BSE Mid-cap was up 0.5% and the Small-cap index was up 0.8%.
Market breadth was strong with 1,457 gainers and 988 losers on the BSE.