Sensex, Nifty Open Gap-Up; Auto Stocks In Focus

The Indian equity markets opened gap-up on the first trading day of the August series led by gains in banking and auto counters. At 10:00 AM, the BSE Sensex was up 294.26 points at 52,881.10, and the Nifty-50 was up 93.50 points at 15,856.55.

In the 30-share pack Sensex, 24 counters were trading higher, whole only six stayed muted. Shares of Axis Bank, Titan Company, Maruti Suzuki, IndusInd Bank were the top gainers, advancing over a per cent each.

The Auto stocks were in major focus in the morning deals after the sector released its sales numbers for the month of July. The Nifty Auto index jumped over a per cent led by gains in Balkrishna Industries(+3.21 per cent), Ashok Leyland (+1.92 per cent), and Eicher Motors(+1.65 per cent).

Among the sectors, buying interest was seen across the board which pushed all sectors to trade green.The Realty sector jumped over three per cent, and Banks, Auto, and PSU Bank were other top gainers. Shares of Oberoi Realty, Prestige Estate, Indiabulls Realty were up 5-6 per cent in the realty space.

In the overall market performance, 1356 shares advanced, while only 399 shares declined.

Later today, HDFC, Punjab National Bank, Emami, Ajmera Realty & Infra, Balaji Amines, Carborundum Universal, Castrol India, CG Power and Industrial Solutions, Nahar Spinning Mills, Orient Cement, Ns RBL Bank will release their quarter earnings.