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Realty, metal stocks favored today
Thu, 3 Sep Closing

Extending the strong rally in afternoon trade, the Indian benchmark indices closed the day on a strong note amid sturdy European and US markets. Except healthcare which ended flat, all the other sectoral indices closed on a firm note with stocks from the realty and metal spaces closing the day on a thumping note. Both the S&P BSE Midcap and the S&P BSE Smallcap indices gathered steam and were up by 1.2% each. The BSE-Sensex closed higher by 312 points, while the NSE-Nifty closed up by 106 points.

Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.48%, while the Hang Seng led the Shanghai Composite lower. They fell 1.18% and 0.20% respectively. European markets ascended in early trade. The rupee was trading a tad lower at 66.20 against the US currency in the afternoon session.

Auto stocks traded in the green today with Tata Motors DVR and Maruti Suzuki being the leading gainers. Shares of Bajaj Auto, the second-largest motorcycle manufacturer soared more than 2% after the company registered a rise of 2% in total sales to 341,965 units in August 2015 against 336,840 units in August 2014. The sales of the motorcycles increased by 2% and stood at 290,436 units in the month under review against 284,302 units in August 2014. However, the company has reported 2% fall in Commercial Vehicles sales, which stood at 51,529 units as compared to 52,538 units in month of August 2014. The company's total exports out of the above stood at 181,658 units, a gain of 4% as compared to 175,127 units sold in the corresponding month last year.

FMCG sector ended the trading day with moderate gains. Dabur and Tata Global Beverages witnessed majority of the buying activity. Hindustan Unilever (HUL) has reportedly slashed prices of shampoo brands in response to rival Procter & Gamble's recent moves. The country's largest fast moving consumer goods company has 46-47% market share in shampoos. Moreover, the company has begun trial runs of its e-commerce initiative. HUL is India's largest fast moving consumer goods company, with leadership in Home & Personal Care Products and Foods & Beverages. HUL's brands are spread across 20 distinct consumer categories. The scrip of HUL ended the trading day on an optimistic note (up 0.5%) on the BSE.

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Jan 17, 2018 02:39 PM