Markets extend lifetime highs as auto stocks outperform; Sensex tops 60,835, Nifty 50 eyes 18,200; Tata Group stocks outshine, RIL lifts too

Gains in benchmarks were hysteric as Sensex raced towards 60,850, while Nifty 50 eyed 18,200 level. Auto stocks outperformed across markets indices.

Oct 13, 2021 02:10 IST India Infoline News Service

Bull Market
Indian markets were at new lifetime highs in the second half of Wednesday's trading session. Gains in benchmarks were hysteric as Sensex raced towards 60,850, while Nifty 50 eyed 18,200 level. Auto stocks outperformed across markets indices. Tata Group stocks outshined, while heavyweight Reliance Industries (RIL) also contributed to the winnings.

At around 2.30 pm, Sensex was trading at 60,796.21  up 511.9 points or 0.85%. Nifty 50 traded 18,175.80 higher by 183.85 points or 1.02%.

Just a couple of minutes, Sensex has hit a new 52-week high of 60836.62, while Nifty 50 climbed to a new all-time high of 18,197.80.

In terms of sectoral indices, BSE Auto skyrocketed more than 1,015 points. The index has touched a new high of 26,903.55. Also, the Nifty Auto index climbed over 4%.

Further, the Metal and Consumer Durables index on BSE zoomed over 410 points or 760 points respectively.

Overall, a broad-based buying was witnessed across sectoral indices except for the realty index that traded cautiously.

Tata Group stocks were outshining across the indicators. Tata Motors soared by a whopping nearly 23.5% so far today. Stocks like Tata Steel, Tata Consumer and Titan advanced by 3-4%.

Tata Group stocks have been in focus amid Q2 earnings, fundraising plans and becoming a successful bidder for Air India.

Large-cap stocks were major lifters of the benchmarks.

On Sensex, the top bulls at this hour- M&M soaring 7% followed by Power Grid, Tata Steel and Titan climbing around 3% each. Tech Mahindra, L&T, Reliance Industries and Sun Pharma advanced around 2% each.

RIL-led subsidiary Reliance New Energy Solar Limited (RNESL) has entered into an agreement with NexWafe GmbH (NexWafe) for acquiring 86,887 series C preferred shares of the face value of EUR 1 each of NexWafe at a price of EUR 287.73 per share aggregating EUR 25 million.

Further stocks like ITC, Ultratech Cement, Bajaj Finance, Kotak Bank and Infosys surged more than 1% each.

On the contrary, top bears on Sensex were - Maruti Suzuki slipping 2.5% followed by HUL diving over 1%. Nestle and SBI shed 0.5% each, while Axis Bank and Bajaj Auto dipped marginally.

Infosys, Wipro, Mindtree and Aditya Birla Money are among some major companies to announce their Q2 earnings today. 

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