Indian shares rise as auto stocks gain on solid July sales data

Bengaluru, Aug 2 (Reuters): Indian shares rose on Monday, helped by auto stocks as monthly data showed recovery in July sales after a second wave of COVID-19 cases had dented demand

A man walks past the Bombay Stock Exchange building in Mumbai, India. (Photo/PTI)

By 0345 GMT, the blue-chip NSE Nifty 50 index (.NSEI) climbed 0.5% to 15,845 and the benchmark S&P BSE Sensex (.BSESN) rose 0.60% to 52,901.28. Both the indexes posted their third straight monthly gains in July.

India’s top car maker Maruti Ltd (MRTI.NS) on Sunday reported 50% jump in July sales, compared with a year ago, while Jaguar Land Rover parent Tata Motors Ltd (TAMO.NS) posted a 92% surge in total domestic sales.

Bajaj Auto Ltd (BAJA.NS) on Monday said its July sales jumped 44% against a year ago. FWN2P706N

The Nifty auto index (.NIFTYAUTO) rose 1%, led by a 1.6% gain each in Maruti and Tata Motors.


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Source: PTI