Sensex rises by 219.31 points to settle at 37,556.16 during the week

Mumbai, Aug 4 (UNI) The Benchmark Index of Bombay Stock Exchange (BSE) gained 219.31 points or 0.59 percent to settle at 37,556.16, in week under review led by steady buying demand in index pivotals.

Data showing that Indian service sector has remained in expansion territory for the second consecutive month in July boosted sentiment.

NSE Nifty rose 82.45 points or 0.73 pc to settle at 11,360.80,

The BSE Mid-Cap index rose 294.27 points or 1.85 pc to settle at 16,206.89. The BSE Small-Cap index rose 383.32 points or 2.33 pc to settle at 16,833.52. Both these indices outperformed the Sensex.

Stocks logged modest gains on Monday, July 30, 2018 on steady buying in index pivotals ICICI Bank, State Bank of India and Reliance Industries.Sensex, rose 157.55 points to settle at 37,494.40. Nifty also rose 41.20 points to settle at 11,319.55.

Domestic stocks nudged higher on Tuesday, July 31, 2018 on buying demand in index pivotals. Sensex, rose 112.18 points to settle at 37,606.58. NSE Nifty rose 36.95 points to settle at 11,356.50.

Stocks drifted lower in volatile trade on Wednesday, August 1, 2018 after the Reserve Bank of India’s monetary policy committee raised repo rate by 25 basis points. The barometer index, Sensex fell 84.96 points to settle at 37,521.62. Nifty too fell 10.30 points to settle at 11,346.20.

Domestic stocks dropped sharply on Thursday, August 2, 2018 in tandem with global stocks on escalating US-China trade spat. Sensex lost 356.46 points to settle at 37,165.16.Nifty too lost 101.50 points to settle at 11,244.70.

The market jumped on Friday, August 3, 2018 after two consecutive sessions of falls, boosted by banks stocks. The barometer index, the S&P BSE Sensex, rose 391 points to settle at 37,556.16. NSE Nifty also advanced by 116.10 points to settle at 11,360.80. Shares got a boost after the weather department forecast a recovery in monsoon in August and September.

Index heavyweight HDFC fell 3.43 oc. The company announced during trading hours on Thursday, August 2,2018, that it has increased its Retail Prime Lending Rate (RPLR), on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 20 basis points, with effect from 1 August 2018.

Power Grid Corporation of India rose 5.57 pc. The company reported 9.17 pc rise in net profit to Rs 2240.54 crore on 15.79 pc rise in total income to Rs 8637.04 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on 31 July 2018.

Vedanta rose 0.93 pc. On a consolidated basis, Vedanta reported 0.67 pc rise in net profit to Rs 2248 crore on 16.78% rise in total income to Rs 22624 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on 31 July 2018. Maruti Suzuki India fell 1.36%. The company said that its total sales fell 0.6% to 1.64 lakh units in July 2018 over July 2017.

Maruti Suzuki India said total domestic sales rose 0.1% to 1.54 lakh units, while total exports dropped 9.9% to 10,219 units in July 2018 over July 2017. The announcement was made during market hours on 1 August 2018.

Mahindra & Mahindra (M&M) rose 1.08 pc. The announced during market hours on August 1,2018, that its auto sales stood at 47,199 vehicles for July 2018, a growth of 13 pc compared to 41,819 vehicles during July 2017.

Tata Motors dropped 3.34 pc. The company reported net loss of Rs 1862.57 crore in Q1 June 2018 as compared to net profit of Rs 3199.93 crore in Q1 June 2017. Tata Motors’ total income rose 8.09 pc to Rs 67306.06 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on 31 July 2018.

Coal India surged 6.32 pc, ONGC rose 3.41 pc and Axis Bank rose 3.74 pc Hero MotoCorp rose 1.56 pc The company declared modest growth in monthly sales in July 2018 after market hours on August 1, 2018.

Hero MotoCorp reported 9 pc rise in sales to 6.79 lakh units of two-wheeler in the month of July 2018 from July 2017 due to continued strong demand for range of popular motorcycles and scooters.

Savio Rodrigues

Savio Rodrigues Founder & Editor-in-Chief

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