FINAL TRADE: Sensex ends 274 pts higher, Nifty closes at 19,439; auto, FMCG stocks fly high

Stock market today: Mirroring global shares, the domestic stock market rallied on Tuesday (July 11). The S&P BSE Sensex ended 274 points, or 0.42 per cent higher at 65,617.84 levels, while the NSE's Nifty closed at 19,439.40, up 83.50 points, or 0.43 per cent. Apart from positive global cues, healthy buying in auto, FMCG, and healthcare stocks helped benchmark indices settle with impressive gains. 

On the Sensex, Sun Pharma (up 2.48 per cent) was the biggest gainer, followed by Maruti (up 1.77 per cent), Tata Motors (up 1.63 per cent), and Nestle India (up 1.56 per cent). Reliance Industries (RIL) was the biggest contributor to the index's gains, followed by Infosys, ITC, and Larsen & Toubro (L&T). 

"While the world is struggling on various economic parameters, India continues its upward march on various economic fronts, the latest being the strong direct tax collection numbers, which further boosted investors' confidence. While positive global cues aided the sentiment, traders bought automobiles, capital goods, power, and FMCG stocks. However, markets may have to brace for intra-day volatility in the run-up to the US Fed's FOMC meeting on July 26. Technically, on intraday charts, the Nifty has formed a double top formation, which is indicating temporary weakness. For intraday traders, 19,500 would be the crucial breakout level, above which the market could move up to 19,600–19,625. However, below 19,380, the selling pressure is likely to accelerate, and the index could retest the level of 19300–19250," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

BUZZING STOCKS

Shares of CarTrade Tech jumped as much as 18.8 per cent to Rs 578.80 apiece on the BSE intraday on Tuesday, July 11, after the company announced it had inked a pact to acquire Sobek Auto India for a consideration of Rs 537 crore. Sobek is engaged in the business of running an automotive digital platform and a classified internet business. The stock ended at Rs 556.30, up 14.27 per cent. Mazagon Dock Shipbuilders ended 10 per cent higher at Rs 1,588.75, which is also its 52-week high on the BSE. The dock has reportedly gotten approval from the Defence Procurement Board for a proposal to acquire three submarines.

On the flip side, Vedanta stock ended 1.67 per cent lower at Rs 277.55 on the BSE after Taiwanese electronic contract manufacturer Foxconn decided to pull out of a semiconductor joint venture with the conglomerate Vedanta. The stock finished at Rs 277.75 apiece, down by Rs 4.5, or 1.59 per cent on the day.

SECTORAL INDICES

On the NSE, the Nifty Auto index was the biggest sectoral gainer. It ended 1.20 per cent higher at 15,588.20. The Nifty FMCG index was second on the list. It ended 1.15 per cent higher at 53,138.15 levels. Metals fell the most in the trade. The Nifty Metal index ended 0.24 per cent lower at 6,369.75 points.

BROADER MARKET INDICES

The S&P BSE MidCap index jumped 0.97 per cent to 29,149.75 levels while the S&P BSE SmallCap index added 0.82 per cent to 33,312.15 points.