Key benchmark indices provisionally settled higher led by gains in auto stocks as firmness in European stocks boosted sentiment. The barometer index, the S&P BSE Sensex rose 98.83 points or 0.35% at 28,522.31, as per the provisional closing data. The Nifty 50 index gained 35 points or 0.4% at 8,809.65, as per the provisional closing data. Key indices trimmed gains after extending gains and hitting fresh intraday high in late trade. The Sensex and the Nifty, both, hit their highest level in more than sixteen months in late trade.
The Sensex rose 158.10 points or 0.55% at the day's high of 28,581.58 in late trade, its highest level since 17 April 2015. The barometer index rose 4.15 points or 0.01% at the day's low of 28,427.63 in afternoon trade. The Nifty rose 49.45 points or 0.56% at the day's high of 8,824.10 in late trade, its highest level since 15 April 2015. The index shed 6.45 points or 0.07% at the day's low of 8,768.20 in afternoon trade.
In overseas stock markets, European stocks edged higher and Asian stocks were mixed ahead of the influential US non-farm payrolls data, which will be released later in the global day today, 2 September 2016. US stocks finished mostly higher yesterday, 1 September 2016, recovering from earlier losses, as investors braced for the much-anticipated August jobs data, which could set the stage for a near-term interest-rate increase by the Federal Reserve. A report from the Institute of Supply Management (ISM) yesterday, 1 September 2016 showed US factory activity contracted for the first time in six months in August as new orders and production tumbled.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,514 shares rose and 1,212 shares declined. A total of 169 shares were unchanged. The BSE Mid-Cap index provisionally gained 0.49%. The BSE Small-Cap index provisionally rose 0.36%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 3655 crore, almost unchanged compared to turnover of Rs 3655.19 crore registered during the previous trading session.
The stock markets will remain closed on Monday, 5 September 2016 on account of Ganesh Chaturthi holiday.
Auto stocks gained. Maruti Suzuki India (up 1.92%) and Mahindra & Mahindra (M&M) (up 1.17%) gained. Ashok Leyland (down 0.6%) and Eicher Motors (down 0.2%) declined.
Tata Motors rose 1.01% after the company's announcement that its total passenger and commercial vehicle sales rose 6% to 43,061 vehicles in August 2016 over August 2015. The announcement was made after market hours yesterday, 1 September 2016. Tata Motors's domestic sales of Tata commercial and passenger vehicles rose 3% to 36,466 units in August 2016 over August 2015. Tata Motors passenger vehicles sales in the domestic market rose 16% to 13,002 units in August 2016 over August 2015. Sales of passenger cars rose 17% at 11,435 units in August 2016 over August 2015, due to strong demand for the recently launched Tiago.
The overall commercial vehicles sales in the domestic market fell 3% to 23,464 units in August 2016 over August 2015. Sales of Tata Motors light commercial vehicles in the domestic market rose 10% at 13,495 units in August 2016 over August 2015. Medium and heavy commercial vehicles (M&HCV) sales fell 17% to 9,969 units in August 2016 over August 2015. The segment saw subdued demand, with the slowdown of recent months continuing, as a result of postponement of replacement and fleet expansion. The company's sales from exports rose 27% to 6,595 units in August 2016 over August 2015.
Hero MotoCorp rose 0.42% to Rs 3,561.70 after the company reported a 28% growth in total sales at 6.16 lakh units in August 2016 over August 2015. The announcement was made after market hours yesterday, 1 September 2016. The stock hit a high of Rs 3,614.35 in intraday trade, which is a record high for the counter. At the time of announcement of the monthly sales volume data, Hero MotoCorp said the company will launch 15 new products across segments in domestic and global markets in the year ending 31 March 2017 (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season. These include the new Achiever 150cc motorcycle and the Super Splendor and Passion PRO motorcycles with the Hero patented i3S technology.
Bajaj Auto rose 0.12% to Rs 3,000. The stock was volatile. The stock hit high of Rs 3,010.45 and low of Rs 2,922.70 in intraday trade. The company reported 5% decline in total sales to 3.25 lakh units in August 2016 over August 2015. The announcement was made during market hours today, 2 September 2016. Bajaj Auto's total motorcycles sales fell 4% to 2.79 lakh units in August 2016 over August 2015. Domestic motorcycles sales rose 27% to 1.74 lakh units in August 2016 over August 2015. Motorcycle exports fell 31% to 1.05 lakh units in August 2016 over August 2015.
Bajaj Auto's total commercial vehicle sales fell 12% to 45,436 units in August 2016 over August 2015. Sales of commercial vehicles in the domestic market rose 14% to 25,595 units in August 2016 over August 2015. Exports of commercial vehicles fell 32% to 19,841 units in August 2016 over August 2015.
Total sales of motorcycles and commercial vehicles in the domestic market rose 25% to 2 lakh units in August 2016 over August 2015. Combined exports of motorcycles and commercial vehicles fell 31% to 1.25 lakh units in August 2016 over August 2015.
SML Isuzu gained 1.39% after total sales rose 12.7% to 1,082 units in August 2016 over August 2015. The company announced the monthly sales volume data after market hours yesterday, 1 September 2016.
Index heavyweight HDFC rose 1% to Rs 1,436.10, with the stock extending recent gains. The stock hit a high of Rs 1,441.60 in intraday trade, which is a record high for the stock. The stock has gained 5.78% in six sessions from a close of Rs 1,357.60 on 25 August 2016 to its current ruling price. The company said that it has closed the second issue of Rupee denominated bonds to overseas investors aggregating Rs 500 crore yesterday, 1 September 2016. The bonds carry yield of 7.5% per annum payable semi-annually and will mature on 9 January 2020. The entire issue has been subscribed by The Province of British Columbia. The announcement was made by the company after market hours yesterday, 1 September 2016.
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