Money on the markets
A maturing market amid the mayhem
Tata Motors rose to an all-time high on Tuesday, climbing nearly 4 percent on the back of strong investor confidence in a broader market that touched a 32-month high for the third consecutive session.
The scrip opened on a strong note and hit a life-time high of 1,067.50 rupees on the BSE before closing 2.7 percent up at 1054 rupees with volumes of 1.2 million shares.
Tata Motors was also the top performing stock in the Auto index which closed 1.3 percent up.
For the year, the counter has given a return of over 30 percent. Do you think there is more upside to the stock?
The BSE Auto Index ended 1.1 percent higher on Monday, buoyed by data that showed a record 158,764 cars were sold last month.
Data from the Society of Indian Automobile Manufacturers (SIAM) showed car sales rose 38 percent in July, as customer sentiment remained strong on hopes of strong economic growth and a fall in food prices.
It was a good day for rate-sensitive sectors like banking, autos and realty as they shrugged off a hike in interest rates by the Reserve Bank of India.
The BSE Auto Index gained 2.4 percent and closed as top sectoral gainer, followed by realty which gained 1.5 percent. The Bankex ended 0.7 percent higher.
The BSE Auto Index gained 1.5 percent on Friday with Hero Honda and Tata Motors posting gains of over 3 percent.
Ashok Leyland was the star performer among index counters with gains of over 8 percent. The company said March quarter net profit more than quadrupled on higher sales, but warned of supply constraints and margin pressure in the future.
The BSE Auto Index gained 1.79 percent on Monday in a broader market that ended 0.6 percent higher at 17,102.
The rise in the Auto Index was led by MRF, Hero Honda, M&M and Maruti Suzuki.
Mahindra & Mahindra topped the list of gainers in the sectoral index as well as the main benchmark index, closing 4.3 percent higher at 1122 rupees with volumes of 0.2 million.
The BSE Auto index gained over 4 percent on Tuesday in a broader market that ended 2.09 percent higher at 16,772.
The rise in the BSE Auto index was led by MRF, BOSCH, Tata Motors and M&M.
Shares in Tata Motors rallied more than 12 percent on Tuesday afternoon as investors cheered strong sales growth in February. Shares in the counter ended at 797 rupees.
The Sensex rose 1.5 percent on Wednesday to close above the 17,000 mark for the first time since May 2008.
On the sectoral front, the banking sector led the indices gaining 3.6 percent followed by the Auto index, which rose 2.1 percent. The Capital Goods ended 1.7 percent higher.