Sensex, Nifty advance sharply; auto shares extend gains for 2nd day
At 14:28 IST, the barometer index, the S&P BSE Sensex, jumped 563.90 points or 0.72% to 77,042.57. The Nifty 50 index surged 168.70 points or 0.71% to 24,034.45.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.23% and the BSE 250 SmallCap Index rallied 0.24%.
The market breadth was positive. On the BSE, 2,290 shares rose and 1,871 shares fell. A total of 209 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.98% to 13.33.
In the commodities market, Brent crude for September 2026 settlement lost 67 cents or 0.92% to $72.28 a barrel.
Economy:
India's HSBC Manufacturing PMI eased to 54.2 in June from 55.0 in May. According to the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), a composite measure of overall business conditions based on new orders, output, employment, supplier delivery times, and stocks of purchases, the manufacturing sector recorded its second-weakest improvement since mid-2022, surpassing only March. Despite the moderation, growth remained robust and broadly in line with the series' long-run average.
India's gross Goods and Services Tax (GST) collections rose 13.9% year-on-year to Rs 1.95 lakh crore in June 2026 from Rs 1.71 lakh crore in the corresponding month last year, reflecting healthy domestic consumption and robust external trade, according to data released by the Finance Ministry. Gross GST revenue from domestic transactions increased 6.5% year-on-year to Rs 1,34,774 crore, while collections from imports surged 34.6% to Rs 60,038 crore, driven by strong trade activity. Despite a sharp rise in refunds, particularly for domestic transactions, net GST collections grew 11.2% year-on-year to Rs 1.62 lakh crore in June 2026 from Rs 1.46 lakh crore a year earlier.
Buzzing Index:
The Nifty Auto index jumped 1.17% to 26,788.85. The index rallied 1.40% in the two consecutive trading sessions.
Ashok Leyland (up 2.91%), Mahindra & Mahindra (up 2.17%), Maruti Suzuki India (up 1.74%), Bosch (up 1.58%), Bajaj Auto (up 1.22%), Tube Investments of India (up 0.96%), Eicher Motors (up 0.89%), TVS Motor Company (up 0.82%), Exide Industries (up 0.46%) and Hero MotoCorp (up 0.19%) advanced.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.09% to 6.759 as compared with previous close 6.753.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.0700 compared with its close of 94.5600 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement shed 0.84% to Rs 141,300.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 101.10.
The United States 10-year bond yield jumped 1.02% to 4.467.
Stocks in Spotlight:
Paisalo Digital was locked in 20% upper circuit after the promoter shareholding in the company increased to 46.72% in Q1 FY27 from 41.75% in FY26 following a series of open-market acquisitions.
GNG Electronics was locked in 5% upper circuit after the company entered into a strategic pan-India distribution partnership with Redington.
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