Among the Sensex stocks, Bajaj Finserv, Bharti Airtel, ICICI Bank, Bajaj Finance, Sun Pharma, and Maruti closed higher, while L&T, Wipro, TCS, Tata Motors, and Axis Bank ended with cuts. The market capitalisation of all listed companies on BSE surged by Rs 2.17 lakh crore to Rs 391.7 lakh crore.
Passenger vehicles are slowing down while two-wheelers are performing well. The small car segment and rural markets are facing pressure. The farm equipment sector is expected to have a negative year. Valuations of two-wheeler stocks are comfortable and earnings are looking good. It is a good opportunity to invest in two-wheelers.
“Bank Nifty is still showing a little underperformance compared to Nifty. But overall, from a near-term perspective, the trend is likely to be on the bullish side.”
Among the Sensex stocks, Wipro, M&M, L&T, and Tata Motors were the top gainers, rising 2-5%. Maruti, Infosys, Nestle India, and IndusInd Bank also closed in the green, while Power Grid, SBI, Reliance Industries, NTPC, and Axis Bank ended with cuts.
Positive setup was seen in stocks like OFSS, GMR Infra, Coal India, PNB, HDFC AMC, DLF, ICICI Bank, SBI Life, Axis Bank, Voltas, Siemens, Granules, Wipro, etc. among others.