Sensex surges 299 pts; Auto stocks rally
11/07/2019 14:32

The frontline indices continue to trade in the positive zone led by gains in realty, pharma, auto indexes. Among sectors, Metal, Pharma and Realty are green with Auto stocks trading 1.53 per cent higher with Hero Motocorp up by 3.49 per cent and TVS Motors up by 3.30 per cent. The shares of Greaves Cotton shares dropped 9 per cent after the company acquired 15,04,523 equity shares, by way of investment, in its subsidiary Ampere Vehicles Private Limited, India. On the other side, the shares of Reliance Infrastructure rose nearly 16 per cent after 16 lenders signed the Inter-Creditor Agreement (ICA) for the resolution of the company's debt.

At 14:22 hours, the SENSEX was trading at 38856.33 up by 299.29 points or by 0.78 per cent and then NSE Nifty was at 11581.5 up by 82.6 points or by 0.72 per cent. The BSE Sensex touched intraday high of 38865.46 and intraday low of 38631.31 The NSE Nifty touched intraday high of 11590.6 and intraday low of 11519.5.

The top gainers of the BSE Sensex were IndusInd Bank Ltd. (Rs. 1553.00,+4.39%), Tata Motors Ltd. (Rs. 76.00,+3.97%), Hero MotoCorp Ltd. (Rs. 2492.95,+3.87%), Tata Motors Ltd. (Rs. 156.55,+3.40%), State Bank of India (Rs. 361.35,+2.02%), among others.

The top losers of the BSE Sensex were Bajaj Auto Ltd. (Rs. 2697.40,-1.62%), Mahindra & Mahindra Ltd. (Rs. 665.55,-1.34%), YES Bank Ltd. (Rs. 92.00,-1.08%), ICICI Bank Ltd. (Rs. 427.90,-0.71%), Tata Consultancy Services Ltd. (Rs. 2100.90,-0.32%), among others.

Among the sectors, Realty index was at 2159.61 up by 36.55 points or by 1.72%. DLF Ltd. (Rs. 187.40,+5.46%), Godrej Industries Ltd. (Rs. 927.50,+2.07%), Indiabulls Real Estate Ltd. (Rs. 116.15,+1.80%), Prestige Estates Projects Ltd. (Rs. 271.90,+0.93%), Phoenix Mills Ltd. (Rs. 651.00,+0.66%),.

On the flip side, IT index was at 15047.61 down by 12.02 points or by 0.08%. 3i Infotech Ltd. (Rs. 3.03,-7.06%), Cerebra Integrated Technologies Ltd. (Rs. 23.95,-1.84%), L&T Technology Services Ltd. (Rs. 1636.10,-1.66%), D-Link (India) Ltd. (Rs. 93.85,-1.62%), Mahindra & Mahindra Ltd. (Rs. 665.55,-1.34%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2599 , shares advanced were 1231 while 1188 shares declined and 180 were unchanged.