- Title: Indian shares inch higher as auto stocks gain on upbeat sales data
- Date: 9th August 2021
- Summary: MUMBAI, MAHARASHTRA, INDIA (AUGUST 09, 2021) (ANI - NO USE INDIA) VARIOUS OF BOMBAY STOCK EXCHANGE (BSE) BUILDING TICKER SHOWING STOCK MOVEMENT BSE PEOPLE OUTSIDE BSE (SOUNDBITE) (English) STOCK MARKET EXPERT, SUNIL SHAH, SAYING: "Maharashtra is one of the key states which contributes to the GDP of this country. So, the investors feel that unlocking of this will enhance our economic activity. That's one point. Second point is if you see the number of new COVID cases are coming down, vaccination is going up. Third thing is, we are in the middle of corporate Q1 results and they are coming out very-very good. They are coming...in many cases, they are better than expected. So that is also one more thing. Then liquidity - the huge liquidity is you know, chasing the equity." VARIOUS OF PEOPLE OUTSIDE BSE
- Embargoed: 23rd August 2021 08:48
- Keywords: Bombay stock exchange India Maharashtra Mumbai Nifty Sensex equity stocks
- Location: MUMBAI, MAHARASHTRA, INDIA
- City: MUMBAI, MAHARASHTRA, INDIA
- Country: India
- Topics: Asia / Pacific,Economic Events
- Reuters ID: LVA001EPK4PXR
- Aspect Ratio: 16:9
- Story Text: Indian shares rose on Monday (August 09), led by auto stocks after monthly data showed an uptick in July retail sales, with Mahindra & Mahindra leading gains on the back of posting a quarterly profit last week.
By 0530 GMT, the blue-chip NSE Nifty 50 index climbed 0.34% to 16,293.30 and the benchmark S&P BSE Sensex rose 0.36% to 54,472.37.
Indian shares notched gains for four out of five sessions last week, scaling record peaks on Wednesday thanks to ample liquidity and strong corporate earnings momentum. Both indexes gained 3% last week.
The Nifty Auto index rose 0.48% on Monday, after data from India's Federation of Automobile Dealers Associations showed total vehicle retail sales for July rose 34.12% from a year ago.
Benchmark indexes in the United States closed at record highs on Friday following strong jobs data, while broader Asian shares inched lower early on Monday amid sharp losses in gold and oil prices.
- Copyright Holder: ANI (India)
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