Equity indices gain marginally, auto and IT stocks shine
However, Bharti Infratel declined by 2.2 per cent after reporting a 21 per cent drop in its consolidated net profit to Rs 704 crore for Q1 FY21.
July 28, 2020 10:28
Mumbai (Maharashtra): Equity benchmark indices advanced marginally during early hours on Tuesday amid positive global cues with auto and metal stocks witnessing gains.
At 10:15 am, the BSE S&P Sensex was up by 132 points or 0.35 per cent at 38,067 while the Nifty 50 gained 49 points or 0.44 per cent at 11,181.
All sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 1.9 per cent, IT by 1.2 per cent and metal by 1 per cent.
Among stocks, Tech Mahindra surged 3.2 per cent to Rs 686.25 per share after the company’s consolidated net profit increased by 21 per cent sequentially to Rs 972 crore in the June quarter.
Tata Motors accelerated by 3.4 per cent to Rs 105.15 per share while Mahindra & Mahindra gained by 2.9 per cent, Hero MotoCorp by 2.2 per cent, Maruti by 1.8 per cent and Bajaj Auto by 1.7 per cent.
The other major gainers were Adani Ports, Hindalco, Tata Consultancy Services and IndusInd Bank.
However, Bharti Infratel declined by 2.2 per cent after reporting a 21 per cent drop in its consolidated net profit to Rs 704 crore for Q1 FY21.
Meanwhile, Asian indices traded in the green following bullish cues from Wall Street overnight.
China’s Shanghai Composite gained by 0.72 per cent, Hong Kong’s Hang Seng by 0.63 per cent and Japan’s Nikkei by 0.44 per cent while MSCI’s broadest index of Asia Pacific shares outside Japan was up 0.8 per cent. (ANI)
