Key benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:20 IST, the S&P BSE Sensex was up 275.23 points or 0.99% at 28,141.19. The Nifty 50 index was up 89.85 points or 1.04% at 8,701. The Sensex regained the psychologically important 28,000 mark in morning trade. Positive Asian stocks underpinned sentiment on the domestic bourses.
The Sensex rose 279.02 points or 1% at the day's high of 28,144.98 in morning trade, its highest level since 29 September 2016. The barometer index rose 53.93 points or 0.19% at the day's low of 27,919.89 in early trade. The Nifty rose 90.05 points or 1.05% at the day's high of 8,701.20 in morning trade, its highest level since 29 September 2016. The index rose 23.85 points or 0.28% at the day's low of 8,635 in early trade.
In overseas stock markets, Asian stocks were mostly higher as investors weighed the prospects of a further US interest rate hike and a report on business sentiment out of Japan. In Japan, the Nikkei 225 Average was currently up 1.01%. The Bank of Japan's tankan survey released today, 3 October 2016 showed Japan's large manufacturers now expect their pretax profit to drop 14.6% in this financial year through March, compared with a previous forecast for a 11.6% fall. Meanwhile, activity in China's manufacturing sector expanded again in September, data released on 1 October 2016 showed. The official Purchasing Managers' Index (PMI) stood at 50.4 in September, identical with the previous month's level. A reading above 50 shows growth on a monthly basis. Stock markets in China and South Korea were closed for holiday. US stocks closed sharply higher on Friday, 30 September 2016 as Deutsche Bank shares rebounded amid a report that the German banking giant was near a settlement with the Justice Department.
Closer home, the broad market depicted strength. There were more than five gainers against every loser on BSE. 1,743 shares gained and 320 shares fell. A total of 50 shares were unchanged. The BSE Mid-Cap index was up 1.57%. The BSE Small-Cap index was up 1.81%. Both these indices outperformed the Sensex.
Auto stocks gained after declaring good sales growth in September 2016. TVS Motor Company rose 1.42%.
Maruti Suzuki India rose after the company's total sales jumped 31.1% to 1.49 lakh units in September 2016 over September 2015. The stock gained 3.75% to Rs 5,684.40. The stock hit a high of Rs 5,707.25 so far during the day, which is also record high for the counter. The stock hit a low of Rs 5,628 so far during the day. Maruti Suzuki India's domestic sales surged 29.4% to 1.37 lakh units in September 2016 over September 2015. Exports jumped 54% to 11,822 units in September 2016 over September 2015. The announcement was made on Saturday, 1 October 2016.
Tata Motors rose 1.64% after the company announced good sales figures on Saturday, 1 October 2016. Tata Motors passenger and commercial vehicle sales (including exports) rose 8% to 48,648 units in September 2016 over September 2015. The company's domestic sales of Tata commercial and passenger vehicles rose 5% to 42,961 units in September 2016 over September 2015. Exports surged 29% to 5,687 units in September 2016 over September 2015.
Mahindra & Mahindra (M&M) rose 2.92% after the company reported strong sales figures during market hours today, 3 October 2016. M&M's total tractor sales rose 69% to 30,562 units in September 2016 over September 2015. Domestic tractor sales rose 70% to 29,035 units in September 2016 over September 2015. Exports rose 48% to 1,527 units in September 2016 over September 2015.
M&M's auto sales rose 8% to 46,130 units in September 2016 over September 2015. Domestic sales rose 7.18% to 42,545 units in September 2016 over September 2015. Exports increased by 14% to 3,585 units in September 2016 over September 2015. The announcement was made on Saturday, 1 October 2016.
Eicher Motors rose 1.74% after the company reported good sales figures on Saturday, 1 October 2016. Eicher Motors' motorcycle division reported a 30% jump in total sales at 57,842 units in September 2016 over September 2015. Exports rose 18% to 884 units in September 2016 over September 2015. Separately, Eicher Motors announced on Saturday, 1 October 2016 that VE Commercial Vehicles (VECV) reported a 14% increase in total sales at 4,843 units in September 2016 over September 2015.
Bajaj Auto rose 2.29%. The company's total sales fell 2% to 3.76 lakh units in September 2016 over September 2015. The announcement was made during market hours today, 3 October 2016.
Hero MotoCorp gained 2.51%. The company conducted raids, along with Delhi Police, on the manufacturers and traders of spurious parts in New Delhi. In a series of action on Friday, 30 September 2016 Hero MotoCorp under the supervision of the Assistant Commissioner of Police & District Investigation Unit - Central Delhi Police (EOW), raided three establishments Sehgal Auto Spares, A.P. Auto and Ankur Sehgal Automobiles - all based at Karol Bagh market of Delhi and seized more than 50,000 spurious spare parts, counterfeit labels and packaging materials. A FIR was registered at Karol Bagh Police Station, New Delhi. Three persons (owners/manager of above three establishments) were arrested in violations to Copyright & Trademark laws, under this raid. This is the second such raid conducted in Delhi since March. The announcement was made before market hours today, 3 October 2016.
Ashok Leyland rose 1.76%. The company's total sales declined 18% to 12,057 units in September 2016 over September 2015. Sales of medium & heavy commercial vehicles (M&HCV) declined 26% to 8,963 units in September 2016 over September 2015. Light commercial vehicles (LCV) sales rose 17% to 3,094 units in September 2016 over September 2015. The announcement was made on Saturday, 1 October 2016.
Realty stocks rose on renewed buying. DLF (up 4.1%), Indiabulls Real Estate (up 2.6%), Housing Development and Infrastructure (up 2.45%), D B Realty (up 2.02%), Unitech (up 2.03%), Sobha (up 0.29%), Godrej Properties (up 2.06%), Prestige Estates Projects (up 1.84%), and Parsvnath Developers (up 2.21%) gained. Oberoi Realty shed 0.1%.
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