Hero MotoCorp, Eicher Motors gain on robust sales outlook, crude oil falls & more

NIFTY50: 19,664 ▼ 9.8 (-0.05%) 
SENSEX: 66,009▼78 (-0.1%)

• Benchmark indices closed flat after range-bound trading session
• In all, 23 of the NIFTY50 stocks closed in the red
• US Dollar Index is hovering near a 10-month high of 106, tracking higher US Treasury yields

Among the NIFTY sectoral indices, FMCG (+0.5%) and Auto (+0.3%) were the top gainers, while Media (-0.8%) and PSU Bank (-0.6%) were the top losers.

What's Up

What's Down

Market Sentiment

Stock Buzz

⭐Two-wheeler makers gains ahead of festivals  

Shares of leading two-wheeler makers like Hero MotoCorp, Eicher Motors and Bajaj Auto rose in the range of 1.3% to 2.6% today. An anticipation of a demand recovery in the upcoming festive seasons led to buying in auto stocks. Investors expect higher sales volumes buoyed by urban demand. Meanwhile, stable commodity prices could protect margins of automakers.   

⭐ Opening of new facilities boosts engineering firms

Companies inaugurating new manufacturing facilities were on investors' radar today. Shares of Kirloskar Pneumatic gained over 3% after it commissioned a new facility at Nashik to make base frames, pressure vessels and heat exchangers. Meanwhile, Salasar Techno Engineering shares jumped 2.6% after it successfully started operations of a new zinc galvanization plant with an annual capacity of 96,000 metric tonnes.

⭐ Century Textiles shares see traction 

Birla Estates, the wholly owned subsidiary of Century Textiles, launched a new luxury residential project in Bengaluru. Phase 1 of the project was fully sold out within 36 hours of launch with an estimated booking value of ₹500 crore. Following the announcement, shares of Century Textiles rose 4.5% in early morning trade before witnessing profit booking. 

⭐ Vishnu Prakash shares hit new 52-week high

Shares of the newly listed infrastructure firm rose 2.7%, hitting a new 52-week high today, after securing a new order worth ₹634.4 crore from Madhya Pradesh Jal Nigam. The order involves the construction, operation and maintenance of the Chillar Dam Multi-Village Drinking Water Supply Scheme for 10 years. 

⭐ Crude oil falls as US dollar gains 

International crude oil prices traded lower, with Brent Crude Oil Futures declining nearly 1% to $91 per barrel. This fall comes amid a stronger US dollar, which is at a 10-month high today as higher bond yields attracted investors towards the dollar. A stronger dollar weighs on oil demand as it becomes more expensive for oil importing countries.

IPO Corner

⭐ The ₹2,800 crore IPO of JSW Infrastructure received strong investor response with an overall subscription of 2.1 times on Day 2. Meanwhile, the IPO Updater Services, which offers facility management services, received a total subscription of 16%. Tomorrow is the last day to apply for these IPOs. To know more and apply for these IPOs, click here.

⭐ The ₹270 crore IPO of jewellery-chain operator Manoj Vaibhav Gems 'N' Jewellers was subscribed 2.2 times on the last day of bidding.

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