Sensex, Nifty close at record highs; auto, consumer durables shares lead gains

Sensex, Nifty close at record highs; auto, consumer durables shares lead gains

Sensex gained 391 pts to 80,351 and Nifty rallied 112 pts to close at 24,433. Sensex hit a record high of 80,397 and Nifty scaled a high of 24,443 in the current session.

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 Maruti, M&M, ITC, Sun Pharma, Titan and Tata Motors led the gains on Sensex, rising up to 6.60%. Maruti, M&M, ITC, Sun Pharma, Titan and Tata Motors led the gains on Sensex, rising up to 6.60%.
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Aseem Thapliyal
  • Jul 9, 2024,
  • Updated Jul 9, 2024 4:55 PM IST

Sensex and Nifty ended at fresh record highs on Tuesday led by gains in auto and consumer durables sector stocks. Sensex gained 391 pts to 80,351 and Nifty rallied 112 pts to close at 24,433. Sensex hit a record high of 80,397 and Nifty scaled a high of 24,443 in the current session. Market cap of BSE-listed firms rose to Rs 451.27 lakh crore.

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Maruti, M&M, ITC, Sun Pharma, Titan and Tata Motors led the gains on Sensex, rising up to 6.60%.

Shares of Maruti Suzuki, M&M and Tata Motors saw a stellar rally after the Uttar Pradesh government exempted strong hybrid electric cars (HEVs) and plug-in hybrid electric vehicles (PHEVs) from registration charges with immediate effect.

Meanwhile, India VIX rose 5% to14.28, signaling a rise in the market volatility in the current session. 

As many as 331 stocks hit their 52-week highs today. On the other hand, 24 shares fell to their 52-week lows on Tuesday. Market breadth was positive in the current session. 

Of 4026 stocks, 2011 stocks ended in the green. Around 1922 stocks ended in the red while 93 stocks remained unchanged. 

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Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said, “Nifty remains positive throughout the session to close with handsome gains of 113 points at 24433 levels. Most sectors ended in green with buying seen in Auto, Consumer Durables, Pharma, and PSU Bank. PSU Banks witnessed fresh buying after the 10-Year bond yield fell to a 3-month low. After consolidating in the last few days, markets bounced back to make fresh high amid buying seen in index heavyweights. Markets tomorrow would react to US Fed Chair Powell's speech. Overall, we expect markets to trade with a positive bias and take cues from upcoming inflation data, Q1FY25 earnings, and budget. Pharma sector is likely to remain in focus over next few days on back comfortable valuation and expectation of healthy earning growth in Q1.”

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Auto and consumer durables shares led the gains on Dalal Street today. BSE auto index climbed 1247 pts with the consumer durables index gaining 1,162 pts, respectively.

BSE midcap index rose 168 pts to 47,540 and the small cap index gained 120 pts to 54,155 level.

Vinod Nair, Head of Research, Geojit Financial Services said, "Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction. The IT sector, with optimistic revenue growth expectations, is expected to positively kickstart the season. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment."

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Sensex and Nifty ended at fresh record highs on Tuesday led by gains in auto and consumer durables sector stocks. Sensex gained 391 pts to 80,351 and Nifty rallied 112 pts to close at 24,433. Sensex hit a record high of 80,397 and Nifty scaled a high of 24,443 in the current session. Market cap of BSE-listed firms rose to Rs 451.27 lakh crore.

Advertisement

Maruti, M&M, ITC, Sun Pharma, Titan and Tata Motors led the gains on Sensex, rising up to 6.60%.

Shares of Maruti Suzuki, M&M and Tata Motors saw a stellar rally after the Uttar Pradesh government exempted strong hybrid electric cars (HEVs) and plug-in hybrid electric vehicles (PHEVs) from registration charges with immediate effect.

Meanwhile, India VIX rose 5% to14.28, signaling a rise in the market volatility in the current session. 

As many as 331 stocks hit their 52-week highs today. On the other hand, 24 shares fell to their 52-week lows on Tuesday. Market breadth was positive in the current session. 

Of 4026 stocks, 2011 stocks ended in the green. Around 1922 stocks ended in the red while 93 stocks remained unchanged. 

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Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said, “Nifty remains positive throughout the session to close with handsome gains of 113 points at 24433 levels. Most sectors ended in green with buying seen in Auto, Consumer Durables, Pharma, and PSU Bank. PSU Banks witnessed fresh buying after the 10-Year bond yield fell to a 3-month low. After consolidating in the last few days, markets bounced back to make fresh high amid buying seen in index heavyweights. Markets tomorrow would react to US Fed Chair Powell's speech. Overall, we expect markets to trade with a positive bias and take cues from upcoming inflation data, Q1FY25 earnings, and budget. Pharma sector is likely to remain in focus over next few days on back comfortable valuation and expectation of healthy earning growth in Q1.”

Advertisement

Auto and consumer durables shares led the gains on Dalal Street today. BSE auto index climbed 1247 pts with the consumer durables index gaining 1,162 pts, respectively.

BSE midcap index rose 168 pts to 47,540 and the small cap index gained 120 pts to 54,155 level.

Vinod Nair, Head of Research, Geojit Financial Services said, "Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction. The IT sector, with optimistic revenue growth expectations, is expected to positively kickstart the season. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment."

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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