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Sensex ends at record high of 32575; auto stocks vroom

01 August, 2017, 22:50 | Author: Paula Vaughn
  • BSE Sensex and NSE Nifty trade higher on Monday

The 30-share Sensex settled at the new high of 32,514.94, up 205.06 points, or 0.63 per cent.

The gains come a day before the Reserve Bank of India (RBI) is widely expected to cut interest rates by 25 basis points.

Indian shares may open higher on Tuesday after Tech Mahindra and InterGlobe Aviation posted strong quarterly earnings and property developer Sobha said it would consider a share buyback for an aggregate amount up to Rs. 62 crore.

The Nifty rallied 23.95 points or 0.23 per cent to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched yesterday fuelled by strong corporate earnings and positive global developments. It ended the session 50 points lower at 3,672, with IDBI Bank (up 0.08 per cent) as the lone gainer.

The rupee firmed up by 14 paise to 64.05 against the U.S. dollar today as exporters and banks intensified selling of the American currency.

Asian shares closed higher.

Amit Shah, Smriti Irani to contest Rajya Sabha polls
Rajput is also Shankersinh Vaghela's relative, the veteran Congress leader who took an exit from the Congress last week. Along with Amit Shah, current Rajya Sabha member Smriti Irani will also contest Rajya Sabha election from Gujarat.

The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009.

On the macro front, data released during market hours showed that India's manufacturing sector's output declined last month due to the launch of the Goods and Services Tax (GST) and weak demand.

"It is the policy week and all hopes are set for an interest-rate cut when the RBI's monetary policy committee meets on August 2", Desai said.

Sector-wise, the S&P BSE automobile index surged by 384.56 points, the metal index by 126.84 points, and the oil and gas index by 51.54 points.

On Monday, the benchmark indices closed in the green on the back of broadly positive global cues and intense buying activities in banking, consumer durables and capital goods stocks.

Maruti Suzuki, Eicher Motors, Hero MotoCorp and Indiabulls Housing were the top gainers on both the indices, while Lupin, ONGC and Bank of Baroda were among the top losers.

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