Sensex ends at record high of 32575; auto stocks vroom

BSE Sensex and NSE Nifty trade higher on Monday

At 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 37.25 points or 0.37 per cent to trade at 10,051.75 points.

India's largest lender State Bank of India led the pack of gainers, rising 4.46%, after it slashed interest rate on savings account deposits by 50 basis points to 3.5% on balance of up to Rs 1 crore.

Shares of Tech Mahindra rose as much as 7.3 per cent before settling 4.12 per cent higher, a day after the company reported a better-than-expected rise in quarterly profit, helped by new clients for its digital services business.

The BSE consumer durable goods starred in the rally by surging 1.86%, followed by metal and PSU.

The Nifty rallied 23.95 points, or 0.23 per cent, to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched yesterday.

In terms of the broader markets, the S&P BSE mid-cap index was up 0.45 per cent, whereas the small-cap index was down 0.12 per cent.

Forecast: Beautiful start to the week; temps in the mid-80s
The start of the week on Monday will continue to remain mostly sunny with low humidity, but temperatures will heat up. Our best chance for storms will Thursday through Saturday as cold front will slow down and stall to our west.

On the currency front, the rupee strengthened by 11 paise to 64.07-08 to a United States dollar from its previous close at 64.18-19.

Foreign portfolio investors (FPIs) net sold shares worth Rs 1,196.94 crore while DIIs bought shares worth Rs 1,768.43 crore yesterday, showed provisional data.

The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009.

Sensex closed 60 points higher at 32,575.

Top gainers on Monday included SBI, Power Grind Corp, Tata Steel, Larsen, ONGC, Bank of Baroda and ICICI Bank while Sun Pharma, Dr Reddy's Labs, Idea Cellular, Lupin, ITC and Cipa declined.

On the other hand, Housing Development Finance Corporation (1.07%), Oil & Natural Gas Corporation (0.32%), Axis Bank (0.24%), HDFC Bank (0.14%), NTPC (0.12%), and Reliance Industries (0.11%) were the biggest losers in the Sensex.

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