Nifty above 17,950; Sensex gains 598 pts; auto stocks rise for 5th day

31 Oct 2022 , 10:31 AM

The benchmarks indices continued to trade with heavy gains in the morning trade. The Nifty marched above the 17,950 mark. Auto shares extended their uptrend for fifth consecutive session. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 597.75 points or 1% to 60,557.60. The Nifty 50 index gained 167 points or 0.94% to 17,953.80. In the broader market, the S&P BSE Mid-Cap index shed 0.63% while the S&P BSE Small-Cap index lost 0.39%. The market breadth was positive. On the BSE, 1935 shares rose and 1335 shares fell. A total of 168 shares were unchanged. Results Today: Tata Steel (down 0.49%), Larsen & Toubro (up 0.52%), Bharti Airtel (up 1.25%), Supreme Industries (down 1.27%), Motherson Sumi Wiring India (up 4.04%), Castrol India (up 0.92%), Timken India (up 0.10%), Asahi India Glass (up 1.11%), LT Foods (up 0.46%), Data Patterns (India) (up 0.15%), Equitas Small Finance Bank (up 1.12%), GHCL (up 0.37%), Saregama India (up 0.01%), TCI Express (up 0.81%) will announce their quarterly earnings later today. Buzzing Index: The Nifty Auto index rose 1.74% to 13,420.75. The index has added 5.71% in five sessions. Among the components of the Nifty Auto index, Mahindra & Mahindra (up 2.7%), Eicher Motors (up 2.12%), Maruti Suzuki India (up 2.09%), Ashok Leyland (up 1.91%) and Sona BLW Precision Forgings (up 1.81%) were the top gainers. Among the other gainers were TVS Motor Company (up 1.26%), MRF (up 1.25%), Hero MotoCorp (up 0.95%), Bosch (up 0.83%) and Tube Investments of India (up 0.74%). Hero MotoCorp rose 0.95%. In India the 32-day festive period starts from the first day of Navratras till the day after Bhai Duj. The worlds largest manufacturer of motorcycles and scooters registered a retail growth of 20% over the corresponding festive period of FY22. The sales were led by high demand across key states such as Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand and Karnataka. Stocks in Spotlight: Lupin declined 0.46% after the US Food and Drug Administration (USFDA) inspected the drug makers Nagpur Unit-2 injectable manufacturing facility from 17th to 29th October 2022. The inspection was a Pre-Approval Inspection of the injectable facility. The inspection closed with issuance of a Form-483 with five observations. FSN E-Commerce Ventures (Nykaa) rose 3.94%. The companys board has revised record date for 5:1 bonus shares from 3 November 2022 to 11 November 2022. The companys board on 3 October 2022 approved issuing 5 bonus equity shares for each share held (5:1). Powered by Capital Market – Live News