In the broader market, the S&P BSE Mid-Cap index was up 0.05% while the S&P BSE Small-Cap index gained 0.4%.
The market breadth favoured the buyers. On the BSE, 1415 shares rose and 1272 shares fell. A total of 126 shares were unchanged. In Nifty 50 index, 26 stocks advanced and 24 stocks declined.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 1,04,77,554 far with 5,11,300 deaths. India reported 2,20,114 active cases of COVID-19 infection and 17,400 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Metal index gained 0.5% to 2,001.40, snapping its two days losing streak. The metal index slumped 2.54% in two trading days.
Vedanta (up 1.32%), Hindalco Industries (up 1.23%), JSW Steel (up 1.13%), Coal India (up 0.98%), NMDC (up 0.55%) and Hindustan Zinc (up 0.51%) were top gainers in metal segment.
Stocks in Spotlight:
Shares of Eicher Motors rose 0.38% to Rs 18,400 on BSE. The auto maker on Wednesday (1 July) announced that its unlisted subsidiary, VE Commercial Vehicles (VECV), reported 70.3% slump in total sales to 1358 units in June 2020 over June 2019. VECV's total domestic sales slumped 75.4% YoY to 1016 units last month. Total exports fell 16.4% to 305 units during the period under review. Sequentially, VECV reported 97.96% surge in total sales in June from 686 units sold in May 2020. VECV reported weak sales in May amid nationwide lockdown.
Mahindra & Mahindra (M&M) rose 1.34% to Rs 517.55 after the company's total sales surged to 19,358 units in June 2020 from 9,560 units sold in May 2020. However, M&M's total sales have fallen 55% in June compared with 42,547 units sold in June 2019. While total domestic sales declined 53% YoY to 18,505 units, total exports fell 72% YoY 853 units during the month. Meanwhile, M&M's total tractor sales during June 2020 were at 36,544 units, up by 10% from 33,094 units for the same period last year. Sequentially, the tractor sales have surged 50.1% in June compared with 24,341 units in May 2020.
Numbers to Track:
The yield on 10-year benchmark federal paper fell to 5.825% compared with previous closing of 5.888% in the previous trading session.
In the foreign exchange market, the partially convertible rupee edged lower to 75.6025 compared with its previous closing 75.51.
In the commodities market, Brent crude for September 2020 settlement rose $1.21 to $42.48 a barrel. The contract fell 1.39% to settle at $41.27 a barrel in the previous trading session.
MCX Gold futures for 5 August 2020 settlement rose 0.34% to Rs 48,930
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
