Pharma, Auto Stocks Help Sensex, Nifty Clock Third Week Of Gains
Indian shares rose fourth time in five sessions as key equity benchmarks posted their third weekly gains led by automakers and pharmaceutical companies.
The S&P BSE Sensex rose 0.51 percent to 31,892 and the NSE Nifty 50 index advanced 0.57 percent to 9,974. For the week, Sensex gained 0.94 percent while the Nifty jumped 1.19 percent.
Fifteen out of the 19 sector gauges compiled by BSE Ltd., advanced led by the S&P BSE Realty Index's 2.59 percent surge.
Tata Motors Gains Most In Two Weeks On August Sales
Shares of passenger car and commercial vehicle maker jumped as much as 3.76 percent, the most in over two weeks, to Rs 390.70 after its domestic sales in August grew 26 percent to 48,988 vehicles.
- Commercial vehicle sales rose 34 percent on a yearly basis to 31,566 units
- Medium and heavy commercial vehicle sales grew 52 percent to 10,926 units
- Integrated and light commercial vehicle sales jumped 44 percent to 3,881 units
- Passenger vehicles recorded sales of 14,340 units, up 10 percent
- Exports declined 53 percent to 3,082 units
Indian shares pared some of their gains weighed down by losses in large cap names like TCS, Bharti Airtel and HDFC.
- Sensex up 110 points or 0.34 percent at 31,840
- Nifty rises 0.40 percent to 9,957
- BSE MidCap and SmallCap indices outperform Sensex, rise 0.80 percent
- IT and Telecom indices slip 0.39 and 0.42 percent respectively
- Realty Index rises the most since August 23, jumps as much as 3.26 percent
Strides Shasun Gains On Closure Of Inspection By U.S. FDA
Shares of the drugmaker jumped as much as 4.78 percent, the most in over two weeks, to Rs 948.50 after it received Establishment Inspection Report confirming closure of inspection of KRS Gardens facility in Bangalore.
The KRS Gardens facility in Bangalore manufactures tablets capsules, sachets, creams and ointments.