Unstructured Finance

Shares in Maruti jump

bse351Shares in automobile companies rose on Wednesday on hopes of buoyant demand during the September-to-December festive season.

Top car maker Maruti Suzuki rose 3.6 percent after Bank of America-Merrill Lynch upgraded it to buy from underperform.

Other stocks like Mahindra & Mahindra and Hero Honda gained 0.2 percent and 0.1 percent respectively. Stocks like Tata Motors slipped 0.6 percent.

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BSE Auto index rises

AUTO INDIA MAHINDRAThe BSE Auto Index rose 2.9 pct on Thursday, a day after domestic automakers reported record May sales.

The broader index too ended 1.6 percent higher on cues from Asian and European shares.

Car sales in India rose an annual 30 percent in May, an industry body said on Wednesday, as rising incomes and a rapidly expanding economy offset the impact of price increases.

Auto sector on the move

The BSE Auto Index closed 1.3 points lower on Wednesday as investors across Asia remained cautious after the overnight slide on Wall Street.

The Auto Index was the top performer yesterday, gaining as much as 2.45 percent in a broader market that shed 115 points.

Automobile stocks are set to benefit from India’s stimulus measures aimed at returning the country to 8 percent growth, according to a top official in HSBC Funds.

Auto index drops over 4 pct

The BSE auto index on Thursday continued its downward trend from the previous session, closing 4.43 percent down.

Losses in automakers such as Mahindra & Mahindra, Tata Motors and Maruti Suzuki pushed the Sensex down in the last hour of trade.

The auto sector saw a turnaround from February onwards after a six-month slide, thanks to new launches and easier availability of finance.

Sensex gains on strong economic data

The BSE Sensex ended 2.6 percent up on Thursday on good corporate results and robust economic data.

Data released on Thursday showed infrastructure output grew 6.5 percent in June while the Wholesale Price Index fell 1.17 percent in the 12 months to July 11.

The 30-share sensitive index swung from an intra-day low of 14,843 to an intra-day high of 15,264 and closed 388 points higher at 15,231.INDIA

Sensex gains 1.5 pct; Maruti net drops

The Sensex ended the week on a positive note, closing 1.7 percent higher, as increased investor confidence helped boost sentiment.

The benchmark closed 194.06 points higher at 11,329.05 while the Nifty ended 1.6 percent higher at 3480.75.

The rise in the Sensex was led by Bharti Airtel, Reliance Industries and ICICI bank. INDIA

Markets choppy, fuel price brought cheer

The BSE Sensex broke a two-day climb and fell marginally to 0.2 percent on Thursday as investors squared their position on the last day of expiry.

The BSE auto index gained 1.3 percent as autos bucked the trend. The rise was led by buying in Maruti Suzuki, Mahindra & Mahindra and Bharat Forge as the government cut state-set fuel prices, a move that could help in slowing down inflation.
FIIs remained net buyers of $6.2 million in equity and $0.5 million in debt, as against net sellers of $59.4 million yesterday and $85.3 million on January 27.

Asian markets saw a rise as investors cheered the U.S. Congress’ headway on a $825 billion stimulus spending package and other efforts to address the financial meltdown.