+
Automakers assist in boosting Indian shares in 2022
ROADS & HIGHWAYS

Automakers assist in boosting Indian shares in 2022

Indian shares surged approximately 1% after closing out 2021 with their best yearly growth in four years, led by auto stocks on the back of robust monthly sales data amid an increase in Covid-19 cases.

The NSE Nifty 50 index advanced 0.92% to 17,513.70 by 0458 GMT, while the benchmark S&P BSE Sensex increased 0.98% to 58,823.26. Auto stocks led the gains, with the Nifty auto index jumping to a three-week high.

Maruti Suzuki, the nation's biggest carmaker, increased 2.9% after registering its highest ever monthly export sales in December.

Tata Motors rose 3.6% after listing a 26% boost in total domestic sales. Eicher Motors increased 3.5% as domestic sales of its commercial vehicles surged 27.6%. Markets have opened higher, taking forward the momentum witnessed in the strong closing on Friday, Deepak Jasani, head of retail research, HDFC Securities, told the media.

Indian shares are probably increased in expectation of fresh inflows from foreign institutional investors, most of whom are still on holiday. Daily coronavirus cases surged for a sixth straight day as the nation witnessed a fresh wave of infections during the holiday weekend.

India observed 33,750 new Covid-19 cases in the last 24 hours, the highest since September 18, health ministry data revealed.

Image Source

Indian shares surged approximately 1% after closing out 2021 with their best yearly growth in four years, led by auto stocks on the back of robust monthly sales data amid an increase in Covid-19 cases. The NSE Nifty 50 index advanced 0.92% to 17,513.70 by 0458 GMT, while the benchmark S&P BSE Sensex increased 0.98% to 58,823.26. Auto stocks led the gains, with the Nifty auto index jumping to a three-week high. Maruti Suzuki, the nation's biggest carmaker, increased 2.9% after registering its highest ever monthly export sales in December. Tata Motors rose 3.6% after listing a 26% boost in total domestic sales. Eicher Motors increased 3.5% as domestic sales of its commercial vehicles surged 27.6%. Markets have opened higher, taking forward the momentum witnessed in the strong closing on Friday, Deepak Jasani, head of retail research, HDFC Securities, told the media. Indian shares are probably increased in expectation of fresh inflows from foreign institutional investors, most of whom are still on holiday. Daily coronavirus cases surged for a sixth straight day as the nation witnessed a fresh wave of infections during the holiday weekend. India observed 33,750 new Covid-19 cases in the last 24 hours, the highest since September 18, health ministry data revealed. Image Source

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code