Sensex Today Ends 436 Points Higher | BPCL & IOC Zoom 10% | BPCL, ONGC Top Gainers

Fri, 2 Feb Closing

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After opening the day on the positive note, Indian share markets gave up some of the gains as the session progressed and ended the day higher.

The bulls were back in action a day after the Interim Budget, with strong gains seen in IT, financials and index heavyweight Reliance Industries. Strength in overseas peers also aided the sentiment.

At the closing bell, the BSE Sensex stood higher by 436 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 156 points (up 0.7%).

BPCL, ONGC and NTPC were among the top gainers today.

Eicher Motors, Axis Bank and HUL on the other hand, were among the top losers today.

The GIFT Nifty ended at 21,957 up by 219 points.

Broader markets are trading on higher. The BSE Mid Cap is trading 0.7% higher and the BSE Small Cap index is trading 0.5% higher.

Sectoral indices are trading mixed, with socks in oil & gas sector, metal sector and energy sector witnessing most buying. Meanwhile, stocks in FMCG sector, telecom sector and banking sector witnessed selling pressure.

Shares of Bajaj Auto, TCS and BOSCH hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 82.92 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 62,910 per 10 grams.

Meanwhile, silver prices are trading marginally higher at Rs 72,306 per 1 kg.

Speaking of stock markets, the general elections in India have always played a big role in deciding sentiment in the market.

This may be for right or wrong reasons but the fact can't be denied. Most people who have put their hard-earned money in stocks either as investment or speculation, will be interested in knowing how the elections will impact the market.

Which stocks or sectors will rise in anticipation of the results? Which ones will be on the back foot?

Tue in to the below video to know the stocks likely to benefit from the 2024 general elections.

Why TVS share price is rising

In news from the auto sector, TVS Motor Company traded 2.4% higher in the afternoon on 2 February after the leading two-wheel manufacturer reported a 23% on-year increase in vehicle sales in January.

The company sold a total of 339,513 vehicles in the first month of 2024, up from 275,115 units in the same period last year.

It sold 329,937 two-wheelers in January 2024, 25% more than it did in the year-ago period.

Motorcycle sales grew 29% to 155,611 units, while scooter sales were up 24% at 132,290 units.

Value Stocks: Stocks with Limited Downside but Good Upside Potential

In the electric vehicle (EV) segment, sales surged 34%, rising from 12,169 units in January 2023 to 16,276 units in January 2024.

TVS' exports grew by 22%, increasing to 69,343 units in January 2024. Two-wheeler exports experienced a growth of 28% to 61,704 units in January 2024. The company, however, added that dispatches during the month were partially affected due to constraints in the availability of containers.

Three-wheeler sales, however, declined, to 9,576 from 10,405 units last year.

Between October 2022 to October 2023, shares of the company have gained 47%.

Why Green Energy Stocks Are Rising

Moving on to news from the green energy sector, green energy stocks rallied after the budget day as the BSE Sensex jumped more than 800 points and Nifty gained more than 240 points.

Shares of KPI Green, KPEL Energy, Waree Renewables, Orient Green Power, Websol Energy Systems and Gensol Engineering are seen locked in the upper circuit while Suzlon shares are up by more than 3 %.

IREDA shares gain by more than 2.5%, while Inox Wind shares are up by 3%.

In its effort to push households to adopt the rooftop solar programme, the government will be enlisting state-run power sector companies NHPC, SJVN, NTPC and Power Grid. Power Grid shares are seen topping the list of BSE gainers, also trading at fresh life highs.

The market is expecting a push towards green energy in the full budget.

Devyani International Q3 Results

Moving to news from the FMCG sector, Devyani International Ltd, which operates KFC and Pizza Hut chains of restaurants, on 2 February reported a consolidated profit of Rs 96 m for the December quarter, falling 87% from the year-ago period.

The company's revenue came in at Rs 8.4 bn, up 6.6% from Rs 7.9 bn last year. The growth is led by new store additions.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were at Rs 1.5 bn, down 17%. The EBITDA margin was at 17.3% compared to 22.1% in the year-ago period.

In FY24, DIL strengthened its growth strategy by acquiring 283 KFC stores in Thailand, positioning itself as a leading Quick Service Restaurant (QSR) player with a total of 1,735 stores globally.

The company aims to achieve its goal of 2,000 stores by the end of 2024, surpassing the original target of 2026. Despite economic challenges, DIL demonstrated resilience in India, adding 94 new stores in Q3 FY24.

The company remains committed to opening 250 to 275 outlets in the current fiscal year, reflecting confidence in the long-term potential of the Indian QSR industry.

As of 31 December 2023, DIL operates 647 KFC stores, 570 Pizza Hut stores, and 154 Costa Coffee stores, totalling 1,452 system stores across existing geographies.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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