Sensex sprints 545 pts, reclaims 58K; Nifty tops 17,300; TaMo up 7%, M&M 6%

CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan

CLOSING BELL

Stock market highlights: Equities sprinted for a fourth straight day on Monday as hefty buying in auto, metals, financials, and Reliance Industries lifted sentiment. The S&P BSE Sensex jumped 545 points, or 0.95 per cent, to end at 58,116, while the Nifty50 reclaimed the 17,300-mark to close at 17,340, up 182 points or 1 per cent.

M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan. On the downside, Sun Pharma, HUL, Nestle, TCS, HDFC, and Asian Paints were the laggards, down up to 2.5 per cent.

In the broader market, the BSE MidCap and SmallCap indices added 1.5 per cent each. Sectorally, the Nifty Auto index soared 3.3 per cent, and the Nifty PSB and Metal indices 1.5 per cent each. The Nifty Pharma index was the only loser, down 0.08 per cent.

Global check

European stocks were muted on Monday to begin the new month, with investors digesting a fresh round of corporate earnings. The pan-European Stoxx 600 hovered fractionally above the flatline by mid-morning, with banks adding 1.9 per cent.

On Wall Street, on the other hand, was suggesting a negative start with futures of all three main indices down 0.3 per cent each. 

Earlier in Asia, Nikkei gained 0.7 per cent, while Kospi was flat with positive bias. 

4:02 PM

Tech View :: 17,000 is likely to act as crucial support

The uptrend continues in the market as the bulls' invasion of the 17,000-17,500 zone continues. The trend is likely to remain positive as long as the benchmark index sustains above 200-DMA, placed at 17,025.

Over the near term 17,000 is likely to act as crucial support; whereas on the higher end, 17,500 may act as crucial resistance. Again, above 17,500, the Nifty may move up towards 18,000

Views by: Rupak De, Senior Technical Analyst at LKP Securities

4:00 PM

Tech View: Nifty Bank is in overbought zone

The Bank Nifty continued its uptrend with higher top and higher low formations on the daily chart. The index RSI has now entered overbought territory and some profit booking scenarios cannot be ruled out from the current levels. The index immediate upside resistance stands at 38,000 and support at 37,000 level and might consolidate ahead of the RBI policy.

Views by: Kunal Shah, Senior Technical Analyst at LKP Securities.

3:59 PM

MARKET COMMENT :: 'FPIs turning net buyers is the major factor'

FPIs turning net buyers is the major factor driving the uptick in the domestic market. Record low unemployment rate in the Eurozone and fall in crude oil prices, increased optimism globally. Oil prices took a hit as the deteriorating demand outlook outweighed cues of ongoing supply tightness. Auto stocks were in focus post the release of positive auto sales numbers.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:58 PM

BSE Stats :: Advance to decline ratio stands at 2:1

3:55 PM

Currency check :: Rupee ends at 79.02/$ against Friday’s close of 79.25/$

3:55 PM

Bond markets :: 10-year bond yield falls 1% ahead of RBI policy outcome on Friday

3:54 PM

Kansai Nerolac surges 9% as Q1 PAT soars 1.5x sequentially

3:51 PM

Nazara Technologies hits 20% upper circuit on solid Q1 show

3:49 PM

RIL jumps 2.6% govt to revise windfall tax 'soon'

3:48 PM

Nifty Metal index soars as manufacturing activity picks up

>> India Maufacturing PMI for July came in at eight-month high of over 56

>> Ratnamani Metals, Adani Ent, APL Apollo rises between 3-5%

3:46 PM

Nifty PSBs surge as 10-year govt bond yields fall 1%

>> PNB, Bank of India, UCO Bank top gainers

3:44 PM

Nifty Auto zooms on healthy July auto sales; Tata Motors, M&M jump over 6% each

3:43 PM

Broader market :: BSE SmallCap index outruns benchmarks; Nazara Tech surges the most

3:42 PM

Broader market :: BSE MidCap index gains 1.5%; IDFC First, Kansai Nerolac top gainers

3:40 PM

Sensex Heatmap :: Only 6 stocks end in the red