Sensex Ends 428 Points Higher as Banking & Metal Stocks Rally; Tata Steel, L&T Top Gainers

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Indian share markets ended on a strong note, as softening crude prices helped ease inflation worries, supporting the bulls to take charge at Dalal Street.

Crude oil prices continue falling and corrected sharply for yet another session slipping under US$ 100 a barrel, as fears of a potential global recession spurred concerns about oil demand.

Benchmark indices ended on a positive note led by the auto and banking stocks.

At the closing bell, the BSE Sensex stood higher by 428 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 143 points (up 0.9%).

Titan, Tata Steel, and L&T were among the top gainers today.

Dr Reddy's Laboratories, Nestle, and Bharti Airtel, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,133, up by 150 points, at the time of writing.

The BSE MidCap index ended higher by 1.2% while the BSE SmallCap index ended higher by 1.3%.

Barring FMCG, all sectoral indices ended in the green with stocks in the banking sector, metal sector, and auto sector witnessing most of the buying.

According to Chartist Brijesh Bhatia, the auto index is on the verge of a multiyear breakout.

Shares of M&M and Varun Beverages hit their 52-week highs today.

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Also read about the multibagger stock which has come down by 7% today post its bonus issue.

Asian share markets ended on a firm note today after minutes from a Federal Reserve meeting showed that US central bankers are determined to fight inflation despite recession worries.

The Nikkei and the Hang Seng ended the day up by 1.5% and 0.3% respectively. While the Shanghai Composite advanced by 0.3%.

The rupee is trading at 79.10 against the US$.

As the rupee falls, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 50,621 per 10 grams.

Note that despite trading in the green today, gold prices have fallen and have taken quite a knock in recent weeks.

Speaking of stock markets, July 2022 marks the 25th anniversary of the Asian currency crisis. After 25 years most of us do not know what was the currency crisis.

We can only be prepared for a crisis if we know what is the crisis. Hence, it is important to know about the crisis and the lessons to be learnt from it.

In the below video, India's #1 trader Vijay Bhambwani explains the crises and lessons to be learnt from it.

In news from the infrastructure sector, NBCC was among the top buzzing stocks today.

Shares of state-run builder NBCC surged following reports that the company will make big gains from selling office spaces in the national capital.

Leading newspaper The Economic Times, in a report, quoted an NBCC official as saying that the company is expected to make Rs 15 bn from the sale of its upscale office space in central and south Delhi in the current financial year.

According to the same report, NBCC has earned Rs 44.2 bn by selling about 1.1 m sq ft in the World Trade Centre, which is coming up at South Delhi's Nauroji Nagar.

In July, the company sold office spaces to the Telecom Regulatory Authority of India, Central Electricity Regulatory Commission, and another government entities for Rs 9.4 bn through an auction.

Earlier in May, the Pension Fund Regulatory and Development Authority and the National Internet Exchange of India acquired office spaces from the company.

The company is working on a number of projects in Delhi, building offices as well as residential spaces.

NBCC share price ended 8.9% higher on the BSE today.

To know more about the company, check out NBCC's financial factsheet and its latest quarterly results.

Speaking of infra stocks, have a look at the chart below to see how the infra index has performed over the years:

The increased capex plans, backed by government's announcements on the production linked incentive (PLI) schemes have pushed the index higher in the past one year.

Global supply chains are shifting away from China and India is a key beneficiary of that trend.

Moving on to stock-specific news, Tata Motors share price were in focus today.

Tata group firm Tata Motors share price rose on the back of strong gains for Chinese automobile manufacturers earlier in the day.

Chinese automobile and auto ancillary stocks soared today after authorities in the country vowed to support auto consumption in the country going ahead.

The Chinese auto industry faced several challenges in 2022 due to the unprecedented lockdowns in major parts of the country owing to a fresh Covid-19 outbreak and continued shortage of semiconductors.

According to a Bloomberg report, the country had earlier in the day underscored the importance of promoting sales of new-energy vehicles and extending the exemption of purchase tax on electric cars.

Recent buoyancy in the Chinese car market has made investors hopeful of strong growth going ahead.

The improvement in the Chinese car market will be healthy for Tata Motors' subsidiary Jaguar Land Rover, given that a major chunk of the company's sales come from China.

A revival in the world's largest car market will help offset rising concerns over demand in the US and European Union, two economies that appear to be heading for an economic slowdown owing to high energy prices.

However, the continued shortage of semiconductors has been an impediment for JLR, given that it has hampered production and left the company unable to meet demands.

While the management has indicated hope of an easing in shortage in the second half of the current financial year, the shortage is likely to drag in 2023.

Back home, the domestic car market has been kind to Tata Motors as it reported a 87% year-on-year growth in sales in June.

Tata Motors share price ended 3.5% higher on the BSE today.

Note that Tata Motors is among the 6 companies that expanded profit margins despite inflation pressure.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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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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